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SmarTrend Watching for Potential Rebound in Shares of Chipotle Mexican After 2.00% Loss

By James Quinn

Chipotle Mexican (NYSE:CMG) traded in a range yesterday that spanned from a low of $318.12 to a high of $327.51. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $319.50 on volume of 344,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 $321.14, 30% 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 14.1%. 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