Chipotle rejected at 440 level. Will it break to the downside?

Technically speaking
Last week the stock was rejected again at the 440 level. The 4th time since July. The 440 level seems to be pretty important.
The bottom of the tight range since say June is 385ish. A break below that level and the next demand I see on this monthly chart is say 280-240ish. That is a 30%+ slide, seems steep, but who knows.

Chipotles troubles have been well documented. Just google             Chipotle, e-coli and you should be caught up. The company made news in September when Bill Ackman of Pershing Square acquired a 5% stake. Link:

As I always say, I lean technical, but hey, fundamentals do matter, more so vs expectations, in my opinion. The stock has essentially been cut in half since 2015, so the R/R would seem to favor the long side. Is this a mis-priced bet? Who knows, but that is why we traders take risk. How much are you willing to risk to find out?

As noted on the chart, earnings come out on the 25th, so proceed with caution.
Comment: I don't like the R/R for a long or short position at these levels.

The longer it stays below $440, a slide toward $240 seems likely.
Comment: forgot the chart:(

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out