Chipotle CMG
I was recommending CMG around $380 about 6 months ago, and it
ran all the way to $499 (not with me still in it, but oh well). It
obviously ran too far because they recently came out and guided for
SSS slightly below the analyst estimates, but still strong enough
to show their recovery is in progress. This prompted a rapid
pullback to just below $420, where I think it's a good entry again.
I'm looking at a long term trend line from 11/1 at $360 through the
lows of 12/6 and it's right there now at $418. You can see from the
daily chart it has also pulled back essentially all of the rise
from March in the low $400's. It's trading well below its major
averages which is bearish but it's made higher lows in the last
week so I believe the pullback is over.
marketwatch.com/st...-06-20
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