Cracker Barrel Old Country Store

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Cracker Barrel Old Country Store ( CBRL) is principally engaged in the operation and development of the Cracker Barrel Old Country Store concept. This stock is trading up 7% at $68.08 in recent trading.

Today's Volume: 532,000

Average Volume: 150,094

Volume % Change: 627%

Shares of CBRL are soaring today after the company reported net income of $34.7 million, compared with $17.5 million from a year earlier. The company also announced that it plans to repurchase up to $100 million in stock.

>>5 Stocks Poised to Pop on Bullish Earnings

From a technical perspective, CBRL is gapping up strong here and breaking out above some near-term overhead resistance at $66.50 with above-average volume. At last check, CBRL has hit an intraday high of $69.30 and volume is well above its three-month average action of 150,094 shares.

Traders should continue to look for long-biased trades in CBRL as long as it's trending above $66.50 with strong upside volume flows. I would consider any upside volume day that registers near or above 150,094 shares as bullish. If CRBL can maintain that trend, then I expect this stock to print new 52-week highs above $69.30 soon.

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