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Chipotle Mexican Rises 3.56% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Chipotle Mexican (NYSE:CMG) traded in a range yesterday that spanned from a low of $329.58 to a high of $340.76. Yesterday, the shares gained 3.6%, which took the trading range above the 3-day high of $330.00 on volume of 522,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Chipotle Mexican have traded between a low of $247.51 and a high of $499.00 and are now at $336.88, which is 36% above that low price. The 200-day and 50-day moving averages have moved 0.8% lower and 1.41% lower over the past week, respectively.

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 14.0%. We continue to monitor CMG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders chipotle mexican

Ticker(s): CMG