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Dunkin Brands Group(DNKN - Get Report) is in the business of franchisor of quick-service restaurants serving hot and cold coffee and baked goods, as well as hard serve ice cream. This stock is trading up 1.3% at $39.31 in recent trading.
Today's Volume: 997,000
Average Volume: 1.10 million
Volume % Change: 50%
From a technical perspective, DNKN is trending higher here and breaking out above some near-term overhead resistance at $38.83 with solid upside volume. This move is quickly pushing shares of DNKN within range of triggering another major breakout trade. That trade will hit if DNKN manages to take out its 52-week high and all-time high at $40 with high volume. At last check, DNKN has hit an intraday high of $39.54 and volume is well on its way of surpassing its three-month average action of 1.10 million shares.
Traders should now look for long-biased trades in DNKN as long as it's trending above that first breakout level at $38.83 or above today's low off $38.55 and then once it sustains a move or close above $40 with volume that hits near or above 1.10 million shares. If that breakout triggers soon, then DNKN will set up to trend well north of $40 a share as the stock enters new all-time highs. Some possible upside targets are $45 to $50 in the near future.
To see more stocks rising on unusual volume, check out the
Stocks Rising On Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.