Chipotle Mexican Grill Rises 1.29% on Heavy Volume: Watch For Potential Pullback
Chipotle Mexican Grill (NYSE:CMG) traded in a range yesterday that spanned from a low of $419.20 to a high of $426.62. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $419.23 on volume of 564,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Chipotle Mexican Grill has traded in a range of $384.77 to $758.61 and is now at $424.04, 10% above that low. 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 is monitoring the recent change of momentum in Chipotle Mexican Grill. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Chipotle Mexican Grill in search of a potential trend change.
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