albert.callisto
Short

CMG - Chipotle punishment ongoing

NYSE:CMG   CHIPOTLE MEXICAN GRILL INC
57 0 0
Chipotle still heavily subject to E.Coli cases. Many comments on various sites indicate that restaurants are significantly less frequented. Some are even empty with 4 people instead of a full room... Situation should not be clearer until earning report at the beginning of February, most analysts expect a sharp results drop. Expect the stock crash to continue in the next few weeks until intermediate levels are hit.

Level 400 was reached in second half of 2013 where the stock consolidated during a few weeks before rising up, this could form the first support. Pivot (~495) was broken in a straight free fall.

Trade active: Large gap from 480 to 469. It's a falling burrito.
Trade active: Intraday, it is finding some rest at 450 , "traders" ribbon is slowly compressing before close.
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