CMG long to potentionally 480-500 here is my logic, we have a good bottom, if we can break the trend line I think we can go higher, zones are also shown on the chart
CMG trade ideas
CMG - Chipotle Clearing a BaseCMG is back after finding a very good floor at 385. Stock is clearing a base and also taking out the 50day moving average. Upside into 444 seen.
CMG Technical Base With Strong Follow-Up On FridayWe stick to our view, expressed on Thursday, when CMG cleared a small base and the 50day moving average at $405. I see next bigger resistance at $443, where the stock could clear an even bigger base. We are observing long-term reversal action with potentially more upside. Stay tuned!
CMG Bull Put Spread = is not something you put on your burito!I know all the MA are on top holding price down. But there seems to be a fairly strong support. I like the new white soldier candle at support! If CMG closes below 383.17. I would consider unraveling the trade i, but more likely just close it out for a small loss.
I don't love this trade but I may watch it a little more and see whats happens. Was curious as to your thoughts.
I'm also looking at a BCS if price approaches 446 and shows a reversal signal - possibly an Iron Condor!
$CMG Short OpportunitySome may think we are late to the party on this, but if $CMG breaks the recent lows look for it to continue down through the $300-400 range. Look for the 200 day Moving Average to be resistance going forward and cover short position if it breaks above recent highs in 2016.
CMG short outlook I'm in around 402 (thanks to greed). Also, expecting it to dip below .78E (retest of new support/old resistance) before returning to a bullish position..Look for a continued 3 wave?
CMGChipotle has broken out on earnings and here's a potential road-map. Will re-evaluate as time goes.
CMG: Potential trend reversalCMG has been accumulated in this zone for an extended period of time, and currently taking off from the uptrend mode.
We're long with my signals group from the 405 mark. The stock had very negative sentiment due to a case of food poisoning, but currently, there is no reason for it not to rally from here, to catch up to the likes of JACK, for instance.
After earnings come out, I'll monitor the formation of a new 'key earnings support' level, and decide wether to add to longs, or simply invalidate the setup and exit if we break down forcefully under 400.
Our current stop loss is wide, to accomodate for volatility, and because this is a potential longer term position.
I'll update the publication as we move forward.
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Ivan Labrie
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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
TENDENCIA BAJISTACHIPLOTE HA TENIDO UNA TENDENCIA BAJISTA DESDE OCTUBRE DEL 2014 CON MOTIVO DE HABER OCURRIDO
VARIOS EVENTOS DE PRESENCIA DE BACTERIAS EN LA ELABORACION DE SUS PRODUCTOS DE ALIMENTOS ELABORADOS
EN ALGUNOS LOCALES DE LA CADENA DE COMIDA RAPIDA
Best case/worst case for Chipotle this SummerLook for a worst case of CMG to trade at ~ 360 this summer, with a best case range around 420
CHIPOTLE MEXICAN GRILL INC, D, BATS Updated 6/21/2016Looks like Chipotle is continuing the downward rend after hitting the white Sliding Parallel, and continuing to drop.
Chipotle - Anticipating a double bottomI love chipotle, both the stock and the sauce, never ate in a chipotle restaurant unfortunately. The weekly chart shows a possible double bottom, possible because the impulse is still red. The Force Index shows a panic back in January, and right now we are retesting the panic prices.
Going on to the daily chart, a close above 397.70$ will be a confirmation to put on a trade, however small, until the weekly impulse turns blue. No close above this level, no trade. As for targets, I will want to take profits at value on the weekly, which fits with the 61.8% retracement on the daily. Soft stop below the swing low.
CMG in the abyss?Please no further step Forward!
CMG should not trade below 400$ (last valid "2") . If that happens, the technical TP could be 280$ ("3") . Prices above 470$ will brighten the Chart. A fast move to 540$ could follow.
The zone between These 2 Levels ( 400-470) seems to be neutral -here is no Action needed.
In my Chart i have illustrated the thinkable shortposition /Stoppsell @ 400$, SL 470$, TP 300/ 280$.
Good luck
