CMG
Funny BullsSilly bulls, this burrito fell apart before the E Coli scares. Stick with the trend until it's broken...
FRGI- Busted Uptrend Now In A Snapback Rally To? Resistance?3-30 Another name that's broken it uptrend to the downside.
Now? Its all about a snap back rally bear channel to form
when it comes to shorting this issue and not until. We've
got some Fibonacci retracement zones to help guide us and
some overhead supply in the $64 zone. Lets see what it
looks like when and IF we get there.
These are not recommendations,
Trade at YOUR own risk,
strictly for educational and
informational purposes only.
JACK- Does Everyone Know What A RISING BEARISH WEDGE Look Like?11-6 Does everyone know what a rising bearish
wedge looks like while its building?
You are looking at one in the process of being built.
For informational and educational purposes only.
These are not recommendations, trade at your own risk.
CMG Cup&Handle pattern, potential gap coveringChipotle Mexican Grill formed bearish pattern called Cup&Handle with lower high (reversal candle) on 6th of October. Important level of support was at $649 and was broken yesterday with conviction. Combine it with $SPX break down of 200 EMA first time since long time and that is how you get in on the right side.
Risk Management: ENTRY was at $649 break. After 3 outside down days it feels a bit oversold. Maybe, wait for a bounce to fill with better price. STOP above $660 makes sence if sellers want to keep pressure and momentum. Then we have $682 reversal point. TARGET: as there is no visible support below previous support I will put my target at $609 which was resistance before gap up on earnings.
