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Carmike Cinemas(CKEC) is a motion picture exhibitor in the U.S. This stock is trading up 3.3% at $15.21 in recent trading.
Today's Volume: 243,000
Average Volume: 278,468
Volume % Change: 61%.
From a technical perspective, CKEC is bouncing hard right off some near-term support at $14.50 with decent volume. This move is quickly pushing CKEC within range of triggering a major breakout trade. That trade will hit once CKEC takes out some overhead
resistance levels at $15.16 and then $15.80 with high-volume.
Traders should look for long-biased trades once CKEC sustains a move or close above those levels with volume that's near or above 278,468 shares. If that
breakout triggers soon, then CKEC should setup to re-test and possibly take out its 2010 high of $19.
On the flipside, I would avoid this stock or look for short-biased trades if it fails to trigger that breakout, and then moves back below its 50-day moving average at $14.25 with high-volume.