Chipotle Mexican Grill One name that's trending very close to triggering a near-term breakout trade is Chipotle Mexican Grill ( CMG), which develops and operates fast-casual, fresh Mexican food restaurants throughout the United States. This stock has been hammered by the bears during the last six months, with shares off by 22%. If you look at the chart for Chipotle Mexican Grill, you'll notice that this stock has been uptrending strongly for the last two months, with shares moving higher from a low of $233.82 a share to its recent high of $296.87 a share. During that uptrend, shares of CMG have been mostly making higher lows and higher highs, which is bullish technical price action. That move has pushed CMG back above its 50-day and it's pushed the stock within range of triggering a near-term breakout trade. Market players should now look for long-biased trades in CMG if it manages to break out above some near-term overhead resistance levels $296.87 to $297 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 976,334 shares. If that breakout triggers soon, then CMG will set up to re-test or possibly take its next major overhead resistance levels at $320 to $330 a share. It's even possible that CMG could tag its 200-day moving average at $341.93 a share off that breakout. Traders can look to buy CMG off any weakness to anticipate that breakout and simply use a stop that sits close to some key near-term support levels at $287.24 to $285 a share. One can also buy off strength once CMG clears those breakout levels with volume and then use a stop that sits right around $295 a share.