Chipotle Mexican Grill $CMG Technical Update
The Chipotle Mexican Grill (NYSE: CMG) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for CMG, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Technical Summary
Term → | Near | Mid | Long |
---|---|---|---|
Rating | Weak | Neutral | Neutral |
P1 | 457.60 | 432.16 | 416.85 |
P2 | 466.45 | 474.42 | 496.23 |
P3 | 476.79 | 515.41 | 574.48 |
Support and Resistance Plot Chart for CMG
Long Term Trading Plans for CMG
December 16, 2018, 1:30 pm ET
The Technical Summary and Trading Plans for CMG help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CMG Report.
CMG - (Long) Support Plan
The technical summary data tells us to buy CMG near 416.85 with an upside target of 496.23. This data also tells us to set a stop loss @ 416.59 to protect against excessive loss in case the stock begins to move against the trade. 416.85 is the first level of support below 457.83 , and by rule, any test of support is a buy signal. In this case, support 416.85 would be being tested, so a buy signal would exist.
CMG - (Short) Resistance Plan
The technical summary data is suggesting a short of CMG as it gets near 496.23 with a downside target of 416.85. We should have a stop loss in place at 496.49 though. 496.23 is the first level of resistance above 457.83, and by rule, any test of resistance is a short signal. In this case, if resistance 496.23 is being tested, so a short signal would exist.