MetroPCS Communications (PCS) One of Today's Top Gainers On Takeover Speculation

Posted: Friday, November 20, 2009 2:41 PM EDT

MetroPCS Communications (PCS) leads the list of top gainers so far today and is now at $6.57, up $0.45 (7.35%) on volume of 15,956,115 shares traded. Over the last 52 weeks the stock has ranged from a low of $5.65 to a high of $18.98. An analyst at Pali Research suggested in a note to investors this morning that PCS should buy competitor Leap Wireless (LEAP) in a stock swap. MetroPCS Communications stock has been showing support around $5.88 and resistance in the $6.28 range. Technical indicators for the stock are bullish and S&P gives PCS a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on PCS the stock seems like it could be a candidate for a May out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]

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