The Other Wireless Players

AT&T, $T, and Verizon, $VZ, have locked up the wireless space. But there are other carrier and providers as well. And with the giants consolidating a bit, it is worth looking at the smaller guys. Three of them are ripe for a run higher. Take a look.

Leap Wireless, $LEAP

Leap Wireless, $LEAP, is peeking above trendline resistance coming from a higher low. It has support for a continued move higher from the rising and bullish Relative Strength Index (RSI) and a Moving Average Convergence Divergence indicator (MACD) that is positive and growing. A continued push through resistance has a gap to fill higher at 7.69 near the Measured Move at 7.75. Get your alerts in!

MetroPCS Communications, $PCS

MetroPCS Communications, $PCS, moved back through the prior gap from February and over 13 month trendline resistance on Wednesday. It has a RSI that is technically overbought but rising, expanding Bollinger bands and a MACD that is positive and growing. These support further upside but the high RSI suggests some consolidation may be needed before a further run. Using a stop loss under that resistance you can hold this long and look for a gap fill to 15.90. Notice that there is very little previous price action to work through over 10.88.

Sprint, $S

Maybe not the grand daddy but maybe the older brother of them all, Sprint, $S, also broke above resistance, at 5.50, Wednesday. It too has a RSI that is rising and bullish, expanding Bollinger bands, and a MACD that is positive and growing to support more upside. The Measured Move higher takes it to 6 but the Cup and Handle pattern break then measures to 9 above that.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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