• Return to Headlines

Bullish Moving Average Cross by Chipotle Mexican Grill (CMG)

By Shiri Gupta

Today, shares of Chipotle Mexican Grill (NYSE:CMG) have crossed bullishly above their 10-day moving average of $398.57 on a volume of 159K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Chipotle Mexican Grill has traded in a range of $384.77 to $758.61 and is now at $400.14, 4% above that low. The 200-day and 50-day moving averages have moved 0.8% lower and 1.41% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Chipotle Mexican Grill on June 9th, 2016 by issuing a Downtrend alert when the shares were trading at $421.17. Since that call, shares of Chipotle Mexican Grill have fallen 5.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Chipotle Mexican Grill

Ticker(s): CMG