A H Belo Corp (AHC) 52 week high analysis

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AHC saw a 13% increase after rumors of acquisition talks which can be found http://www.bizjournals.com/dallas/news/2016/09/23/report-gannett-weighs-acquisition-of-dallas.html?ana=yahoo

Price spent most of 2015 selling off, finding balance around the $5-$6 area until July 2016 when it reversed. Since then its broke out to the upside and recently hit the 161.8 Fibonacci extension as well as a former trend support line now acting as resistance. Watching for balance to form soon, and if rejected going short.
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