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Watch for Chipotle Mexican to Potentially Pullback After Gaining 2.70% Yesterday

By David Diaz

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.

Chipotle Mexican share prices have moved between a 52-week high of $499.00 and a 52-week low of $247.51 and are now trading 76% above that low price at $436.35 per share. 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 48.9%. 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