Stock Chart of the Day: GMCR

GMCR is the breakout stock of the day, breaking out to new highs off a strong gap and price bar to new highs.  How does a swing trader trade this post breakout?  We wait and what.

A post breakout trading range at the new highs should setup up another run up.  The easy trade is a breakout failure.  If price closes below the old high, it will be a clear signal for a swing trade short setup.  The first target would be around $132.50, which would be the “gap fill”  target or the price level before the gap breakout.

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