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After Yesterday's Rally of 1.80% Shares Could Potentially Pullback

By Nick Russo

Chipotle Mexican (NYSE:CMG) traded in a range yesterday that spanned from a low of $420.58 to a high of $439.67. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $435.41 on volume of 807,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Chipotle Mexican share prices have moved between a 52-week high of $530.68 and a 52-week low of $247.51 and are now trading 74% above that low price at $430.55 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has risen 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Chipotle Mexican on August 31st, 2018 by issuing a Downtrend alert when the shares were trading at $476.76. Since that call, shares of Chipotle Mexican have fallen 11.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders chipotle mexican

Ticker(s): CMG