Gannett Inc. (GCI), which rose more than 50% from the 10 area to above 15 from late November to mid January, appears poised to break out of a two-month sideways consolidation.
The stock has run up to resistance going back to its January high in the 15 3/4 area, and a break of 15.81, our suggested entry point, would position the stock for upside acceleration.
Our stop loss on a trade would be 15.20.
Marathon Petroleum (MPC) also has been consolidating for two months after a breakout in January that saw the stock surge nearly 50%, from the 30 area to around 45, in just four weeks.
The stock gained 1.21, or 2.75%, on Monday, and appears ready to test resistance in the 45 1/2 area.
Suggested entry is 45.51 to confirm continuation of the uptrend, while a stop loss would be 43.00.