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Chipotle Mexican: The Losing Streak Continues (CMG)

By James Quinn

Shares of Chipotle Mexican (NYSE:CMG) traded at a new 52-week low today of $320.01. This new low was reached on below average trading volume as 185,000 shares traded hands, while the average 30-day volume is approximately 1.1 million shares.

Chipotle Mexican Grill, Inc. owns and operates quick serve Mexican restaurants. The Company operates restaurants throughout the United States.

Chipotle Mexican (NYSE:CMG) has potential upside of 43.3% based on a current price of $323.09 and analysts' consensus price target of $463.08. The stock should find initial resistance at its 50-day moving average (MA) of $470.96 and further resistance at its 200-day MA of $579.21.

Chipotle Mexican share prices have moved between a 52-week high of $499.00 and the current low of $320.01 and are currently at $323.09 per share. 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 its subscribers protect gains by selling shares of Chipotle Mexican on June 7th, 2017 by issuing a Downtrend alert when the shares were trading at $465.50. Since that call, shares of Chipotle Mexican have fallen 30.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows chipotle mexican

Ticker(s): CMG