$CMG Reversal trade in Chipotle Mexican Grill

Entry level $745 = $target price $800 = Stop loss $723
Limited risk long entry with the rising 200MA acting as your stop loss.
CMG has had a massive gain in 2019 but has recently suffered from rotation back into tech, MCD had a impact on dragging the sector down also.
Its very difficult to defend the valuation and fundamentals of the company but analysts and investors seem to love it, the recent pullback seemingly presents a good trading opportunity,
Average analysts price target $843
P/E ratio is very high at 67.
Company profile
Chipotle Mexican Grill , Inc. engages in the development and operation of fast-casual, fresh Mexican food restaurants throughout the U.S. It offers focused menu of burritos, tacos, burrito bowls and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.
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