CMG trade ideas
BUY CMG For $540/$600CMG has sold quite significantly based on technicals and all of the past news of Ecoli outbreaks. The damage has been done and we have now based. We have held a major trendline, key area of $400, with a weekly MACD crossover, and then finally we have completed a C wave at the .886 fib level hinting to a future gartley or bat pattern more than likely. Buying now at $446 with a stop at $431 would offer more than 6:1 risk/reward targeting $540 where we have major resistance. The 2nd target will be the $600 area.
below cloud and 50 mashrinking margins-below cloud - see the important points in our book on amazon and our u tube channel-and 50 day ma-stoc crossed down-relative strength weak-cci and percent r near bottom range- monetyflow decreasing-stop loss at cloud or above 50 ma -target around 410
"CMG UPDATE"PRICE IS TESTING SUPPORT IN THE 4TH MONTH OF CONSOLIDATION
TRIGGERING ABOVE $478 IS BULLISH
WITH FAILURE CLOSING BELOW $391
perfect symmetry we should see $470 area in a day or two to finalize the right shoulder and we know where it is going lol
Chipotle - Head and shoulder-like pattern, sell the breakoutThe head and shoulders is a bit tilted but it could be the third part of a movement that will bring bears back in the game. Sell the breakout of this range. On Ichimoku side, after a short bullish cloud chunk, we see that a twist with a bearish cloud is coming back. The lagging span did not manage to go through the cloud and the Kijun is now a resistance together with the SSB.
Chipotle Packs Some Salsa Chipotle has dropped off a cliff and has found support near 470-471 area. Look for a retrace up to the sour cream.
CMG: Continuation of Downtrend StartedCMG has resumed down trend. Tomorrow we will have the conformation. Target is 350$. Best of Luck with shorts.
Chipotle - End of E.Coli? After it had been severly beaten with a bottom at 400, the Chipotle stock stopped bleeding and, at least from a technical point of view, is turning bullish in its ascending channel. Ichimoku helps us to define some levels for a long entry. We have a weekly Kijun around 580 and a daily Kijun evolving at 490 that is providing some nice support. Note the cloud turning bullish as well on the right. For a lower risk entry, one may wait for the lagging span to get out of the cloud.
Remember: technical analysis helps to find WHEN to enter, but fundamentals (especially for such tomato stocks) tell you IF you should enter.
CMG - Possible BullCMG pierced its first major resistance at 480 on 2/11, and has trended slightly up and sideways since then. Right now the stock appears to be finishing its second attempt to pass through a second major retracement and resistance level at approx. 530.
Based on the RSI, the low volume on its last two positive gains, the recent failure to close above 530, and the fact that the stock needed three attempts to pierce resistance last time, I think its slightly more likely that the stock will stay in a channel between 500 and 530 before making one more successful push above resistance. Should the entire stock market surge or plummet unexpectedly on monday 3/7, I would expect cmg to follow suit over a few days either breaking above 530 or pushing down to its recent support at 500 or even 480.
The MACD may be in the beginning stages of tightening (this is probably a premature call to make, but what the heck) - suggesting a large jump one way or the other is in the offing.
When chipotle does sustain a break above 530, its got virtually zero resistance until around 575 - which presents an opportunity for those who are bearish in the longer term to try to pull in some profits (if it breaks within the next 1-3 weeks) prior to major economic news possibly shifting the market downward...
Hesitantly long on this stock right now- though I would be waiting for better signals in the MACD histogram and a break one way or the other on strong volume
"CHIPOTLE BACK IN SYNC"FRAMING YOUR CHART SO YOU CAN LISTEN TO THE" LANGUAGE OF PRICE" IS CRUCIAL IN ONES SUCCESS.
WE HAVE TO LISTEN TO THE INFORMATION THAT WE ARE GIVEN AND ACT ACCORDINGLY ALWAYS HAVING THE "CONTEXT" OF THE HIGHER DEGREE AGENDA.
CMG: A shortI am bearish on CMG in a short term sense. Story/fundamental/technical wise
Technical: The price has breached the 200 Weekly SMA and shows weak price action. I am expecting a drop but I am unsure where it stops.
Fundamentals: CMG is over valued and based on classical valuation based on DCF, CMG's fair value is at $288. Which is a big drop. In terms of PE and PS it is undervalued as well. However, since it is a growth stocks and it assumed that earnings are used for growth, EV/EBITDA still shows decent valuation of 14
Story wise: Many would have known about the e coli scare and causes a drop on stores sales. Though as a food scientist this food scare is actually very small. However, due to fear (funny enough from wall street) the stock may see further decline.
For short term players CMG is a good short but once there is a good time I will get long since it is a favourable food restaurant and also have big room for growth.
