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Rap Sheet

Author:

Jester Debunker

Subject:

Off Topic

Date:

06/29/17 at 8:52 AM CDT

 

 

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Sentiment:

Neutral

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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