3 LT Trends... Keep buying $1500-1700

NYSE:CMG   Chipotle Mexican Grill, Inc.
Could we go to the moon from here? Absolutely.

However, on the monthly chart we are bouncing off of what has historically been a long-term resistance level, ORANGE (with few exceptions--any trip above is short-lived).

I'm not sure we're heading back to YELLOW unless something extreme happens, but this PURPLE line is looking great as the 'near-term' support level for us to re-test eventually (in 2024 or 2025).

So, keep an eye out. CMG may go sideways for a while, and money can be made, but if we break $1700, it may finally be time to start nibbling away at this all-star burrito.

Disclaimer: I'm a regular at Chipotle and eat a burrito at least once per week.

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