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Bullish Moving Average Cross by Chipotle Mexican Grill (CMG)

By David Diaz

Today, shares of Chipotle Mexican Grill (NYSE:CMG) have advanced above their 10-day MA of $480.36 on a volume of 117K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Chipotle Mexican Grill share prices have been bracketed by a low of $352.96 and a high of $758.61 and are now at $482.68, 37% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.4%.

SmarTrend recommended that subscribers consider buying shares of Chipotle Mexican Grill on March 29th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $433.11. Since that recommendation, shares of Chipotle Mexican Grill have risen 10.2%. We continue to monitor CMG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Chipotle Mexican Grill

Ticker(s): CMG