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After Yesterday's Decline of 2.00%, Chipotle Mexican Offers Investors Better Value

By David Diaz

Chipotle Mexican (NYSE:CMG) traded in a range yesterday that spanned from a low of $318.12 to a high of $327.51. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $319.50 on volume of 344,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Chipotle Mexican on February 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $286.53. Since that recommendation, shares of Chipotle Mexican have risen 14.1%. We continue to monitor CMG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Chipotle Mexican share prices have been bracketed by a low of $247.51 and a high of $499.00 and are now at $321.14, 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.4%.

Keywords: rebounders chipotle mexican

Ticker(s): CMG