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McClatchy (MNI - Get Report) is a news, advertising and information provider, offering an array of print and digital products in each of the markets it serves. This stock is trading up 8.9% to $2.69 in recent trading.
Today's Range: $2.44-$2.75
52-Week Range: $1.05-$3.04
Three-Month Average Volume: 280,462
From a technical perspective, MNI is ripping higher here right off some near-term support at $2.42 with above-average volume. This move is quickly pushing MNI within range of triggering a major breakout trade. That trade will hit once MNI manages to take out some key overhead resistance levels at $2.92 to $3.20 with high volume.
Traders should now look for long-biased trades in MNI once it sustains a move or close above those levels with volume that hits near or above 280,462 shares. If that breakout triggers soon, then look for MNI to re-test or possibly take out its next major overhead resistance levels at $4 to $4.50.