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Chipotle Mexican Grill Bullish Moving Average Crossover Alert (CMG)

By Amy Schwartz

Today, shares of Chipotle Mexican Grill (NYSE:CMG) have crossed bullishly above their 10-day moving average of $485.76 on a volume of 143K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Chipotle Mexican Grill share prices have moved between a 52-week high of $758.61 and a 52-week low of $352.96 and are now trading 38% above that low price at $487.03 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has slid 0.8%.

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 11.9%. 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