CMG trade ideas
CMG Breaks 10-Month Trendline Resistance. Next Stop $441CMG just broke a 10-month long resistance trendline. We should see CMG head to at least $441 in the coming weeks.
Chipotle rejected at 440 level. Will it break to the downside?Technically speaking
Last week the stock was rejected again at the 440 level. The 4th time since July. The 440 level seems to be pretty important.
The bottom of the tight range since say June is 385ish. A break below that level and the next demand I see on this monthly chart is say 280-240ish. That is a 30%+ slide, seems steep, but who knows.
Fundamentals
Chipotles troubles have been well documented. Just google Chipotle, e-coli and you should be caught up. The company made news in September when Bill Ackman of Pershing Square acquired a 5% stake. Link: money.cnn.com
As I always say, I lean technical, but hey, fundamentals do matter, more so vs expectations, in my opinion. The stock has essentially been cut in half since 2015, so the R/R would seem to favor the long side. Is this a mis-priced bet? Who knows, but that is why we traders take risk. How much are you willing to risk to find out?
As noted on the chart, earnings come out on the 25th, so proceed with caution.
See Why $CMG Is The #1 Trade For First Most amateur investors and traders, even some pro investors and traders are missing out on the hugely bullish price action in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG). There is a major pivot line established back in June 2016. The stock hammered on $385 multiple times showcasing how big of a level it was. Finally, in October Chipotle Mexican Grill broke below this pivot at $385. Every big time investor and trader said the stock was cooked, but it rose from the ashes and within days was back above $385. Again, in December the stock took a beating on bad news, breaking below $385. Tons of analysts and big name investors pronounced the stock dead, headed sharply lower. Yet again, within days it was back above $385. This is my thesis here. The stock has twice broke the major support at $385 and within days recaptured it. This is insanely bullish price action. The bearish investors are getting their heart broken time and time again. This stock is headed higher and is my top pick for the first quarter of 2017. In January, I expect it to be above $440 and by March, possibly above $500. I am a buyer into year end.
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CMG LONGupdate,, look at the long channel line...
if we break, then we go higher..... lets watch closely for a reversal to move much higher next year
CMG - Finally some strength?Looks to me like CMG is finally coming off a long base. Sold 397.5 puts expiring Dec 9th for 5.50 credit.
Sell CMG below 400 with a target of 330 stop loss 420CMG is showing a long term bearish pattern. It is making lower highs and lower lows from March 16. IT is making a bearish channel. Currently the price is going down after touching next lower high of the channel at 422. It looks like it is going to make a new lower low at 320 of the bearish channel.
$CMG Continues To Collapse, But Smart Investors Will Buy It HereShares of Chipotle Mexican Grill, Inc. (NYSE:CMG) continue to collapse as investors run for cover. Recent earnings did nothing to calm the fears of continued competition and the food sickness issues remain an overhang. Will average investors remain highly bearish, institutional investors are signaling a major level to buy at $335. This buy level comes from two major trend lines meeting at this level. When price hits it, it will put in a major bottom. I am a buyer here for sure.
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CMG has been in the danger zone and earnings is tmrw, thoughts?Tomorrow is break it or make it. 390 has been the support price since June.
CMG LONGgreat area to by stop under 380 ,, if that breaks we go to 350-60 area but i think we have a bottom good luck
cmg longpull back to support area and .78% fib
I think we are over done here
ackman can't be wrong 4 years in a row , can he?
Chipotle out of business and McDONLADS WILL FOLLOWIf it breaks the temporary green line then go short but stop when it reaches the black support line to recover short.line.
www.thestreet.com
SORRY CHIPOTLECMG has been going down for a long time on the weekly charts and is struggling to stabilize. It has had a nice little run up the last 2 weeks but it couldn't push through the 440 zone and a good bullish indicator developed. The long-term trend is still down and the risk to 444 is about 7%. Potential gains are more than the risk.
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 - 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!
