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Chipotle coming in for its first 200D SMA test since October 2023... Time to BTD on burritos? 🌯 $CMG https://t.co/tYHuCubSSy
$CMG at $52 and nearing the 200dma with a sub 30 daily rsi now seems like a a good bounce trade is due. And soon.
$CMG w/ a 50% retrace of its doubling move and sitting on the 200DMA. Still pricey but this shud be the place for a bounce. No position
Chipotle Mexican Grill Inc. (NYSE: CMG) has seen a significant decline in its stock price, dropping approximately 18% since a recent 'Sell Restaurants' call and 23% from its all-time high. The stock is currently testing its 200-day moving average (DMA) for the first time since October 2023, with some analysts suggesting it may be poised for a bounce. Despite the decline, opinions remain divided on its valuation, with some questioning why Chipotle should be valued higher than tech companies like Nvidia. Currently, CMG is trading at $52 with a sub 30 daily RSI.