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Stock Investors Sell Off Shares of Leap Wireless International, Down 2.9%

Published on Thu, 02/28/2013 - 13:16
By Robert Cotter

Down 2.9% to $5.40, Leap Wireless International (NASDAQ:LEAP), is one of today's notable movers. The S&P is currently trading 0.3% higher to 1,520 and the Dow Jones Industrial Average is trading fractionally higher to 14,096.

Leap Wireless International (NASDAQ:LEAP) has potential upside of 0.2% based on a current price of $5.40 and analysts' consensus price target of $5.41. The stock should run into initial resistance at its 200-day moving average (MA) of $5.97 and subsequent resistance at its 50-day MA of $6.20.

Over the past year, Leap Wireless International has traded in a range of $4.28 to $11.29 and is now at $5.40, 26% above that low. The 200-day and 50-day moving averages have moved 0.07% higher and 1.06% lower over the past week, respectively.

Leap Wireless International, Inc. provides mobile wireless services. The Company's services are targeted to meet the needs of customers who are under-served by traditional communications companies. Leap's Cricket service is available to customers in various states from New York to California.

By Robert Cotter