CMG             pierced its first major resistance at 480 on 2/11, and has trended slightly up and sideways since then. Right now the stock appears to be finishing its second attempt to pass through a second major retracement and resistance level at approx. 530.

Based on the RSI , the low volume on its last two positive gains, the recent failure to close above 530, and the fact that the stock needed three attempts to pierce resistance last time, I think its slightly more likely that the stock will stay in a channel between 500 and 530 before making one more successful push above resistance. Should the entire stock market surge or plummet unexpectedly on monday 3/7, I would expect cmg             to follow suit over a few days either breaking above 530 or pushing down to its recent support at 500 or even 480.

The MACD may be in the beginning stages of tightening (this is probably a premature call to make, but what the heck) - suggesting a large jump one way or the other is in the offing.

When chipotle does sustain a break above 530, its got virtually zero resistance until around 575 - which presents an opportunity for those who are bearish in the longer term to try to pull in some profits (if it breaks within the next 1-3 weeks) prior to major economic news possibly shifting the market downward...

Hesitantly long on this stock right now- though I would be waiting for better signals in the MACD histogram and a break one way or the other on strong volume
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