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Chipotle Mexican Set to Possibly Pullback After Yesterday's Rally of 2.70%

By Shiri Gupta

Chipotle Mexican (NYSE:CMG) traded in a range yesterday that spanned from a low of $429.32 to a high of $439.79. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $432.83 on volume of 748,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend 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 48.9%. 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 $436.35, 76% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.4% while the 200-day MA has slid 0.8%.

Keywords: rebounders chipotle mexican

Ticker(s): CMG