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Chipotle Mexican Grill(CMG - Get Report) develops and operates fast-casual, fresh Mexican food restaurants throughout the U.S., as well as two restaurants in Toronto and two in London. This stock is trading up 5.3% at $318.57 in recent trading.
Today's Volume: 1.2 million
Average Volume: 838,625
Volume % Change: 228%
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From a technical perspective, CMG is moving sharply higher here with above average volume. This move is quickly pushing CMG within range of triggering a major breakout trade. That trade will hit once CMG takes out its 50-day moving average of $323.17, and then once it clears its gap down day high from July of $335.80 with high volume.
Traders should now look for long-biased trades in CMG once sustains a move or close above those levels with volume that's near or above 838,625 shares. If that breakout triggers soon, then CMG will have a great chance of re-filling some of that massive gap that started above $400.