Mercer International Inc. (MERC) is trading up more than 10% to $7.03. The stock is pushing to fresh highs as it lifts and breaks its November-8 range high near the $7.00 area. There is no resistance in this vicinity and the equity could print the tape higher over the near-term if the bulls can sustain the buying.
The equity continues to see a huge volume; more than 500,000 shares have already traded hands compared to a daily average of around 238K.
MERC shares have traded between $2.35 and $7.00 over the last 52 weeks. The security gained $0.64, or 10.06 percent, to $7.00 at 2:35 p.m. EST in Nasdaq composite trading.