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Chipotle Mexican Set to Possibly Pullback After Yesterday's Rally of 1.21%

By Amy Schwartz

Chipotle Mexican (NYSE:CMG) traded in a range yesterday that spanned from a low of $832.70 to a high of $845.00. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $831.17 on volume of 235,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Chipotle Mexican and will alert subscribers who have CMG in their portfolio or watchlist when shares have changed trend direction.

Chipotle Mexican share prices have moved between a 52-week high of $857.90 and a 52-week low of $383.20 and are now trading 119% above that low price at $837.74 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 1.2%.

Keywords: rebounders chipotle mexican

Ticker(s): CMG