Tuesday's Volume: 266,000
Average Volume: 120,981
Volume % Change: 127%

>>5 Stocks Poised for Breakouts

From a technical perspective, FWRD bounced higher here right off some near-term support at $38.75 with above-average volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $35.84 to its 52-week high of $39.66. During that move, shares of FWRD have been consistently making higher lows and higher highs, which is bullish technical price action. That move is quickly pushing shares of FWRD within range of triggering a near-term breakout trade. That trade will hit if FWRD manages to take out its 52-week high at $39.66 with high volume.

Traders should now look for long-biased trades in FWRD as long as it's trending above some key near-term support levels at $38.75 or above its 50-day at $37.46 and then once it sustains a move or close above $39.66 with volume that hits near or above 120,981 shares. If that breakout triggers soon, then FRWRD will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $43 to $45.

Red Robin Gourmet Burgers

Red Robin Gourmet Burgers ( RRGB) is a casual dining restaurant chain focused on serving an imaginative selection of high quality gourmet burgers in a family-friendly atmosphere. This stock closed up 2% at $52.77 on Tuesday.

Tuesday's Volume: 248,000
Average Volume: 142,900
Volume % Change: 100%

From a technical perspective, RRGB spiked higher here right above some near-term support at $50 with above-average volume. This stock has been uptrending strong for the last month and change, with shares moving higher from its low of $42.82 to its recent high of $53.83. During that move, shares of RRGB have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of RRGB within range of triggering a near-term breakout trade. That trade will hit if RRGB manages to clear its 52-week high at $53.83 with high volume.

Traders should now look for long-biased trades in RRGB as long as it's trending above today's low of $51.96 or above some more key support at $50 and then once it sustains a move or close above $53.83 with volume that hits near or above 142,900 shares. If that breakout triggers soon, then RRBG will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $56 to $60.

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