J. Alexander's

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J. Alexander's ( JAX) operates casual dining restaurants in the U.S., offering an American menu. This stock is trading up 4.7% at $14.17 in recent trading.

Today's Volume: 75,000

Average Volume: 54,814

Volume % Change: 152%

From a technical perspective, JAX is ripping higher here with above average volume, and this stock is breaking out above some near-term overhead resistance at $13.96.

Traders should now look for long-biased trades in JAX as long as it's trending above some major near-term support levels at $13 to $13.50 with strong upside volume flows. I would consider any upside volume day that registers near or above 54,814 shares as bullish. If we continue to see that action, then JAX has a great chance of hitting $20 in the near future.

On the flipside, I would avoid JAX or look for short-biased trades if it fails to hold this trend, and then drops below some $12.80 with high volume.

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