CMG - gap up day tradeSo far this gap up looks fantastic. If this gaps up over my enter line this is going to trap about a weeks worth of shorts.. I could see this trade right up into the bottom of last bullish candle.
CMG trade ideas
SIMPLE WAVE ANALYSISIf Wave C is the same magnitude as wave A, which puts the short target at about ~100
CMG Quite possible significant top?????Right at this price is monthly, weekly, and daily resistance.
CMG bearish trend12/30/17
Serious bearish trend
"Cowen predicts Chipotle shares will drop nearly 20%" YF
Sell below $294 support, stop above $300 support and close around $258. R=$500, $15 stop gap, 16 shares, 14 days.
CMG fibChipotle has dumped after reccent news. Chart candles are for 1 week. I believe it is sitting a key support zone and fib level, and has a good chance of reversal.
This is my first time using Fibonacci levels on a chart. Please feel free to offer comments, criticism, feedback.
Cheers and good luck
CMG UpdateThe last bullish signal I gave on CMG was an intraday chart Gartley @ 301.73 that gave us a couple of nice bounces that were confirmed by RSI all the way to the overbought extreme. The third test of the Gartley's PRZ was not expected to have a high probability of holding but nevertheless gave an impressive response. Now that price has come through that level in a dramatic gap, short-term (intraday) sellers of CMG should have several opportunities in the next few days to catch relatively easy downswings. Watch especially for a 70 test of RSI on the 30m chart or signals from HSI if you have access to it.
