Shares of Gannett (NYSE:GCI) opened today below their pivot of $15.44 and have already reached the first level of support at $15.07. Analysts will be watching for a cross of the next downside pivot targets of $14.78 and $14.12.

Gannett has overhead space with shares priced $14.73, or 16.6% below the average consensus analyst price target of $17.67. The stock should discover initial support at its 50-day moving average (MA) of $13.05 and subsequent support at its 200-day MA of $12.58.

In the past 52 weeks, shares of Gannett have traded between a low of $8.28 and a high of $18.93 and are now at $14.73, which is 78% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.5%.

SmarTrend recommended that subscribers consider buying shares of Gannett on December 5th, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.87. Since that recommendation, shares of Gannett have risen 19.3%. We continue to monitor GCI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.