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4 Stocks Breaking Out on Big Volume

Red Robin Gourmet Burgers

Red Robin Gourmet Burgers (RRGB - Get Report), together with its subsidiaries, develops, operates, and franchises casual-dining restaurants in the U.S. and Canada. This stock closed up 13% at $75.26 in Monday's trading session.

Monday's Volume: 694,942
Three-Month Average Volume: 164,539
Volume % Change: 303%

>>5 Stocks Poised for Breakouts

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From a technical perspective, RRGB gapped up sharply higher here back above its 50-day moving average of $70.29 with above-average volume. This move also pushed shares of RRGB into breakout territory, since the stock took out some near-term overhead resistance at $72.23. Share of RRGB are now starting to trend within range of triggering another big breakout trade. That trade will hit if RRGB manages to take out Monday's high of $75.59 to some more near-term overhead resistance at $77.09 with high volume.

Traders should now look for long-biased trades in RRGB as long as it's trending above Monday's low of $69 and then once it sustains a move or close above those breakout levels with volume that this near or above 164,539 shares. If that breakout hits soon, then RRGB will set up to re-test or possibly take out its next major overhead resistance levels t $81.17 to its 52-week high at $86.83.

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SYM TRADE IT LAST %CHG
ARW $55.64 2.30%
BKS $15.74 0.00%
CALL $9.27 3.10%
RRGB $78.59 -2.10%
AAPL $110.68 -1.50%

Markets

Chart of I:DJI
DOW 16,392.44 +41.06 0.25%
S&P 500 1,957.70 +8.84 0.45%
NASDAQ 4,754.31 +4.3310 0.09%

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