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Bearish Moving Average Cross by Chipotle Mexican (CMG)

By Shiri Gupta

Chipotle Mexican (NYSE:CMG) shares have crossed bearishly below their 10-day moving average of $703.51 on a volume of 304K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Chipotle Mexican has traded in a range of $383.20 to $726.99 and is now at $664.77, 73% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.8%.

SmarTrend is tracking the current trend status for Chipotle Mexican and will alert subscribers who have CMG in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses chipotle mexican

Ticker(s): CMG