Leap Wireless International (LEAP) One of Today's Top Gainers On Buyout Suggestion

Posted: Friday, November 20, 2009 2:27 PM EDT

Leap Wireless International (LEAP) leads the list of top gainers so far today and is now at $13.98, up $1.23 (9.65%) on volume of 8,735,396 shares traded. Over the last 52 weeks the stock has ranged from a low of $11.98 to a high of $42.47. An analyst at Pali Research suggested in a note to investors this morning that MetroPCS (PCS) should buy LEAP in a stock swap. Leap Wireless International stock has been showing support around $12.42 and resistance in the $12.92 range. Technical indicators for the stock are bullish and S&P gives LEAP a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on LEAP the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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