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Trade Alert - McClatchy High Volume

Published on Wednesday, 08 February 2012 11:38 Written by TradersHuddle Wire

mni New York, February 8th (TradersHuddle.com) - Unusual high volume detected on shares of McClatchy Company (NYSE:MNI), early in the trading session. McClatchy is currently trading higher by 3.68%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

The McClatchy Company (NYSE:MNI) publishes daily and non-daily newspapers across the United States. The Company also owns and operates other media-related businesses, including a national online publishing operation, as well as a national newspaper marketing company.

McClatchy has already traded 0.786 times its 3-month average volume, and has calculated support and resistance at $2.22 and $2.47 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.3% from its previous trading close, which means that McClatchy stock is outperforming the overall market.

Note - Automated Content Created By TradersHuddle's Technical Scanner

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