CMG - TRADECMG look to be trying to find some support at the 50MA.. Just broke a nice little 4 day rally.
CMG trade ideas
$CMG CHIPOTLE HAS JUST GOT A LITTLE TO HOT.Today's downgrade was more than overdue, having run 84% in 4 months on not much fundamental news. We are short and thick this has a good few $$$$ to fall before finding stability. There is a lot of FOMO money in the stock that will be quick to sell so the sell side could intensify quickly.
$CMG CHIPOTLE MEXICAN GRILL ***it is over cooked****Not that much has really changed to CMG in the last year to give it such a high valuation, at the end of the day it is a food company with a P/E ratio of 118. Similar ratios are held by growth tech companies. When you consider McDonalds has a P/E of 26, that sort of confirms our short interest in CMG. $550 is a reasonable target for our short but will access along the way.
Round 2: Ready to drop, descending channel, No support, just 700Say hello, to your new Bitcoin. CMG is @700, why not 1k, or 10k i mean why not? Nobody takes profit because they all want it to go to 1k?
The way things are looking if ER is solid we are heading to 900$ lol all i can say is ROFL!!!!
So CHIPOTLE is going to take over the world?
finviz.com MCD cap is 146Bil,with 6bil income
finviz.com 19.2 bil, inc 170 mil
so x 10 cap, 190 bil , and 1.7 bil income makes $7k stock ??? Does this make sense?
Just look at these comparisons, crazy. This stock is crazy overvalued.. Can;t wait for this to drop like a TANK. cause when this drops, who will be buying at these ridiculous prices? I mean at 27 mil share float, it basically a bitcoin.
Look at the insider trading!
All i can say, short for now, get out before ER, go long cause u know institutions will buy buying up again... long till it hits 900 short, rofl
Why trade BTC when u got CMG rofl.
Good luck everyone ;)
**LEGENDS**
BLUE = Bear/Resistance
Yellow = Bull/ Support
~Explore the chart for possible scenarios of price actions - use zoom and scroll for better view.~
/*This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*/
If you want your coin to be analyzed, JUST ask.
If you got a question, ASK away!
And please keep those Stop losses in place!
Fractal dates are moments of interest, where price and time collide to create oscillation - vertical lines!
Thank you,
Ajion
Short the Fkrover bloated and over bought. as soon as it will start falling, it will go down by $50 to 100 in no time. just hold short patiently Or buy puts. there will be little selling before ER and then huge sell off after ER. All good news of ER is baked in here. It has gone up parabolic and it has to come down shortly.
the big pictureJust completed its H&S pattern. Look at this monthly chart and all the converging resistance overhead. Not to mention a large bearish cypher w/ textbook fibs. 0.382 retrace points it back down to major support around $490 by summer. Accumulation levels are about what they were when this stock was in the double digits... yet this "growth stock" is getting pumped like burritos are the new hipster craze. Sorry guys about 10 years late to the party...
There's also a chance that since this busted to the downside of the current channel it could do the same on the upside and continue to ATHs if it breaks resistance here. Will largely depend on whether market keeps melting up or melts down next week. Either way, important to watch what it does at this level.
