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Shares of Chipotle Mexican Rise Above Previous 52-Week High

By David Diaz

Shares of Chipotle Mexican (NYSE:CMG) traded at a new 52-week high today of $646.54. So far today approximately 62,000 shares have been exchanged, as compared to an average 30-day volume of 691,000 shares.

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

Chipotle Mexican (NYSE:CMG) is currently priced 40.6% above its average consensus analyst price target of $382.92. The stock should discover initial support at its 50-day moving average (MA) of $558.79 and subsequent support at its 200-day MA of $486.27.

Chipotle Mexican share prices have moved between a 52-week high of $646.54 and a 52-week low of $307.70 and are now trading 110% above that low price at $644.65 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.1% while the 200-day MA has risen 0.8%.

SmarTrend recommended that subscribers consider buying shares of Chipotle Mexican on January 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $444.04. Since that recommendation, shares of Chipotle Mexican have risen 44.7%. We continue to monitor CMG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows chipotle mexican

Ticker(s): CMG