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Look for Shares of Chipotle Mexican to Potentially Pullback after Yesterday's 2.24% Rise

By Shiri Gupta

Chipotle Mexican (NYSE:CMG) traded in a range yesterday that spanned from a low of $476.17 to a high of $489.25. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $483.66 on volume of 332,000 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 monitoring the recent change of momentum in Chipotle Mexican. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Chipotle Mexican in search of a potential trend change.

In the past 52 weeks, shares of Chipotle Mexican have traded between a low of $247.51 and a high of $530.68 and are now at $487.01, which is 97% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has declined 0.4%.

Keywords: rebounders chipotle mexican

Ticker(s): CMG