CMG trade ideas
Chipotle - More rice please!-Although they never put enough rice and meat in their bowls, the price hike that they gave to us is enough for now!
-The 27 analysts offering 12-month price forecasts for Chipotle Mexican Grill Inc have a median target of 1,800.00, with a high estimate of 2,100.00 and a low estimate of 1,569.20. The median estimate represents a -4.56% decrease from the last price of 1,886.00.
-Based on analyst expectations we are already at the price that was expected. Now the only thing left is to digest the bowls we ate and lay down for a nap.
-Long-term, definitely a buy but for now it rose at took all it could.
Long CMGTarget zone in green, CMG do your thing!
Using Pivot Points and Fibonacci extension to pull out reference levels. 2023 not only looks like an outside fib target, but also corresponds with last weeks R4 level. I like this and can see it happening especially if we can see a CMG analyst upgrade sometime this week.
CMG. Diamond burritos! Looking at the daily chart, this seems to me to be a HUGE bull flag. Given that, and the fact that their float size is very small (roughly 27.64 million shares available to the public) as well as a very small open short interest on that float (roughly 2.78%, about 768 thousand shares), this thing can very well break out, and breakout out HARD. I'm publishing this on 07/29/2021, and the share price is currently $1830, I expect this to be at or around the $1950-$2000 area within the next week or so. Keep in mind, this monster hit lows of $415 a share during the corona virus breakout in March 2020, and since then, has seen a 400% return! They know how to operate as a business, and there's no telling what this can reach in the near future, but this for sure seems like something you want to have in your portfolio!
Cup and Handle Earnings 7-20 AMCEarnings tomorrow after market closes.
There was a significant divergence on RSI but hopefully this has corrected. Divergence is the disagreement between indicators and price. There can be bearish and bullish disagreements. Many draw a trendline on the peaks to see a bearish divergence and a long the valleys to see a bullish one.
No recommendation.
Moving averages are all where they are supposed to be. All are sloping upward. Negative volume is very high.
Trading as earnings can be hazardous to your health.
Tomorrow is another day (o:
$CMG PT $1,450$CMG I believe we can see low prices towards the end of the year. A COVID free holiday season approaching who's going to be eating Chipotle instead of turkey? :) GLTA!
CMG Trading SidewaysCMG is currently very extended and has bounced between 1320 and 1565 in 2021. With the two major pullbacks in CMG occurring when the stock had an RSI of above 60, it seems very likely that the company is due for another pullback now that the RSI has surpassed 70.
On the other hand, the stock does like to be volatile and can fake people out like on March 5th when it looked like the stock was going to break downward, however, the stock ended up returning back to the channel. I would not be surprised if CMG did it again and psyched people out by destroying shorts and then finally plummeting back to the 1320 range.
Chipotle Mexican Grill: Turned Out To Be A Massive MoveThis turned out to be a massive move, from our 14 June research report at $1366 to today's $1541 (exceeding target).
Opportunities abound...get in touch, today.
Chipotle Mexican Grill - Target Exceeded - Take ProfitsAs per my 14/06 report:
"Chipotle Mexican Grill (CMG, $1364) | The share has breached the downward trend line extending back to the peak of 19 April, while potentially developing a double bottom formation. I'm looking for a minor retracement and an eventually break of the mid-point to trigger the setup. Note the daily RSI now have crossed back above the weekly RSI. Trade Levels: Buy on a break above $1374. Stop-loss: $1348. Target Range: $1422-$1433."
Good run over last 10 trading days. Now trading $1497.
Take profits into the weekend.
Buying Opportunity CMGCMG at 1390 level is buying opportunity... Target in the next 60 days is 1590.
Megaphone / Bull FlagStill in a down trend of megaphone.
Bull flag forming inside down trend.
With inflation rising being the next catalyst for overall market collapse I expect this to continue down considering the former will curb discretionary spending on these types of biz.
WK looks - sideways so not sure but trend defined.
Chipotle bounces off price support$CMG.
As long as market trend is bullish, $CMG is a buy.
Iron Condor candidate?
Vertical spread towards next ER, end of July, if I were to go in.
Look for volume confirmation.
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media pumpinga f ing burrito joint trading at 120x earnings. This market is a massive pump fest and the best ideas are quesadillas apparently. This thing could plummet 38% and still be overvalued
Inverse Head and Shoulders Earnings 4-21Earnings 4-21 AMC (estimated) Long entry is at neckline with an uptrend.
Possible stop below lower shoulder which is the left shoulder/1350 Right shoulder is 1401.70. It is considered more bullish if the right shoulder is higher than the left. The head is at 1256.27
Not a recommendation.
Trading close to earnings is risky. It depends on how earnings are received by the market whether they beat or miss.
CMG🌦This could be a great earnings play. ER is 22 days away.
Pattern recognized: Running flat
Hypothesis: Bullish
Catalyst: earnings
Conclusion: Would buy calls but they're too costly for my liking. Another example of how the stars don't always align. Trust the process.
***This does not constitute financial advice.***
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CMG - WAVE 4 CONSOLIDATION PHASECMG based on wave analysis, is in wave 4 consolidation phase.
The stock prices are predicted to be consolidated in sideway approximately between USD1125 ~ USD1565 regions.
Happy trading.
LONG CMG R:R = 2.15Market looks like it's super bearish, yet we have a good setup here.
Watch the price action and GTFO if it doesn't seem like it's working out, but this seems like a reasonable entry.
