Chipotle - Anticipating a double bottomI love chipotle, both the stock and the sauce, never ate in a chipotle restaurant unfortunately. The weekly chart shows a possible double bottom, possible because the impulse is still red. The Force Index shows a panic back in January, and right now we are retesting the panic prices.
Going on to the daily chart, a close above 397.70$ will be a confirmation to put on a trade, however small, until the weekly impulse turns blue. No close above this level, no trade. As for targets, I will want to take profits at value on the weekly, which fits with the 61.8% retracement on the daily. Soft stop below the swing low.
CMG trade ideas
CMG in the abyss?Please no further step Forward!
CMG should not trade below 400$ (last valid "2") . If that happens, the technical TP could be 280$ ("3") . Prices above 470$ will brighten the Chart. A fast move to 540$ could follow.
The zone between These 2 Levels ( 400-470) seems to be neutral -here is no Action needed.
In my Chart i have illustrated the thinkable shortposition /Stoppsell @ 400$, SL 470$, TP 300/ 280$.
Good luck
#CMG: Getting Good To Buy!Price is now trading higher after correction, we are making higher lows and trading upwards, looking for buy set ups this week.
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CMG: Potential long term longsI shared this setup in the KHL chatroom recently, we're long from the retest of the earnings support.
If you missed it, you can still get in, preferrably if we get a pullback. Stops should be like the one on chart.
Potential is considerable here, so, I'd reccomend jumping in asap.
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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.