CMG - it might be expensive but the value is there LONGCMG on the weekly chart has been uptrending for a year after being rangebound sideways for a
year. It has seen a volume spike and corresponding price action with the current earnings beat
Price rose 60% in the past year and 16% YTD. This is not linear and nor is it parabolic.
The MACD supports the bullish momentum observation in the price action while the RS indicator
shows good strength in both shorter and longer time frames. This is a blue chip megacap for
sure. While it is not technology like the MAg7, the food business is lucrative. the CEO in the
earnings call announced plans to expand to 7000 stores nationally. This is ambitious. Those who
are ambitious investors or traders and are well funded could consider adding some shares
or even a few options of CMG. I am going with a few options OTM at $3000 six months out.
I believe that I will be well rewarded for the risk taken especially given the expansion plans
and the historical track record here.
