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Watch for Chipotle Mexican to Potentially Pullback After Gaining 3.56% Yesterday

By James Quinn

Chipotle Mexican (NYSE:CMG) traded in a range yesterday that spanned from a low of $329.58 to a high of $340.76. Yesterday, the shares gained 3.6%, which took the trading range above the 3-day high of $330.00 on volume of 522,000 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 14.0%. We continue to monitor CMG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Chipotle Mexican has traded in a range of $247.51 to $499.00 and is now at $336.88, 36% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.4%.

Keywords: rebounders chipotle mexican

Ticker(s): CMG