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Play of the Day (For Monday)
- KRI INFO -
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Interactive Chart
Sunday, May 20, 2001


KRI - Knight Ridder, Inc. $56.01 (+0.89)

Sunday's Comment:

Knight Ridder, Inc. publishes 32 daily and 22 non-daily newspapers in 28 markets across the US. The company also runs 45 Web sites associated with its print publications. Shares of KRI have spent the last two months consolidating in the $52-$55 range after hitting a relative low of $50.20 on March 22nd. Over the past two weeks, the stock has quietly moved out of its trading range, followed by a breakout on three consecutive higher highs coupled with higher lows. We believe that KRI may be ready to challenge its all-time highs and we are also looking for a split announcement with the July 17th earnings release. The company currently has 250M authorized and 75 million shares issued so it has enough shares for a split. From a technical standpoint, KRI has support at Friday's intra-day low of $55.61 with additional support at $55.23, the 10-dma. Resistance is the 100-dma at $56.30 and then the March 9th intra-day low of $57. Traders should look for entry points on a bounce off of $55.61 or a move above $57 on volume greater than 480,000 shares by noon. We plan to set stops at $54 to limit potential losses.


Picked on May 20th @ $56.01
Change since picked +0.00
Stop Loss @ $54.00


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