CAB ... TAXI ... CAB ... Yeah it's a taxi cab. (Old joke)

Gator's Chart of the Day: CAB

Yes it's extended.  It's at an all-time high so it has to be extended.  It also made that high on volume well over the 50 day average and that was day one of a breakout from a volatility squeeze.  The short ratio is nearly 6 so the stock can keep this up for a few more days. 

The volatility squeeze trade I've learned from Fitz goes like this:

Phase 1 is the break out and it can go anywhere from 2-3 days to a week but doesn't normally go farther than that.

Phase 2 is the pull back to test the break out.  It may not come back very far so watch for the bounce.

Phase 3 is the move higher from the the successful test.

The Trade
If you like to grab it early then here's your chance.  Take a bite and put your stop back in congestion.  If you use the 20 day sma that will be a little over 5% below the buy so adjust your position size accordingly.

If you prefer to wait for the pull back and successful test you may miss the trade completely.  I don't think that will be the case here because it's not a bio tech or take over candidate making a speculative move but it could happen.