A 52 Week High for Gannett, will it Hold?

Published on Tuesday, 18 September 2012 12:34 Written by TradersHuddle Wire

New York, September 18th (TradersHuddle.com) - Shares of Gannett Co., Inc. (NYSE:GCI) booked a new 52 week high today by trading above $17.87, traders are definitely monitoring Gannett's price action to see if this move attracts further buying into the stock.

Gannett Co., Inc. (NYSE:GCI) is an international news and information company that publishes various daily newspapers in the United States and the United Kingdom, including "USA TODAY". The news company also operates television stations in major United States markets as well as operates websites offering news, information and advertising.

Gannett is currently trading -0.79% versus its previous trading session close, and it has calculated support and resistance at $14.99 and $17.87 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading flat by 0% from its previous trading close, which means that Gannett stock is underperforming the overall market.