MetroPCS Communications (PCS) NewsBite - PCS Hits 52-Week Low on Wal-Mart Threat

MetroPCS Communications (NYSE: PCS) hit a new 52-Week low of $7.08 so far today. Currently the stock is down $0.12 (-1.59%) to $7.42 on 19,075,956 shares traded. Today's low is down $11.56 from a 52-Week high of $18.98. PCS is taking a hit on th market on worries that a new wireless plan offered by Wal-Mart could cut into the carrier's market share. MetroPCS Communications stock has been showing support around $7.13 and resistance in the $8.29 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 February out-of-the-money bear-call credit spread above the 10 range.

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