SeaWorld Entertainment

Another stock that looks poised to trigger a near-term breakout trade is SeaWorld Entertainment ( SEAS), which owns and operates ten theme parks within the U.S. Some of its brands include SeaWorld, Busch Gardens and Shamu, among others. This company recently came public and the stock has been on a tear with shares up 14%.

If you take a look at the chart for SeaWorld Entertainment, you'll notice that this stock recently spiked lower to $34.62 a share following their first public earnings report. That spike was quickly bought up and the stock closed back above $37 a share. Shares of SEAS are now quickly approaching a near-term breakout trade above its all-time, which it hit a few weeks.

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Market players should now look for long-biased trades in SEAS if it manages to break out above its all-time high at $39.65 a share with high volume. Look for a sustained move or close above those levels with volume that registers near or above 300,000 shares. If that breakout triggers soon, then SEAS will set up to enter new all-time high territory, which is bullish technical price action. Some possible upside targets off that breakout are $45 to $50 a share.

Traders can look to buy SEAS off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support at $37 a share. One could also buy SEAS off strength once it takes out its all-time high at $39.65 a share with volume and then simply use a stop that sits a comfortable percentage point from your buy entry.

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