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Lee Enterprises(LEE - Get Report) provides local news, information and advertising in midsize markets, with 49 daily newspapers and a joint interest in four others, nearly 300 weekly newspapers and specialty publications in 23 states. This stock is trading up 11% at $1.59 in recent trading.
Today's Range: $1.42-$1.70
52-Week Range: $0.49-$1.73
Volume: 1.4 million
Three-Month Average Volume: 314,892
From a technical perspective, LEE is skyrocketing here with monster volume. This move has started to push LEE into breakout territory since the stock has moved above some major overhead resistance at $1.54 to $1.56
with heavy volume.
Traders should now look for long-biased trades once the
next major breakout trade triggers for LEE. That trade will hit once LEE takes out some past overheard resistance at $1.73 with high-volume. At last check, LEE has hit an intraday high of $1.70 today and volume is well above its three-month average action. Look for a sustained move or close above $1.70 with volume that's near or above 314,892 shares. If we get that action soon, then LEE could re-test and possibly take out its next significant overhead resistance levels at $2.24 to $2.75 in the near future.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.