CMG - can a year of negative divergences be finally adding up?
On the left: CMG weekly showing negative RSI divergences for a year now.
On the right: CMG daily with a negative divergence leading to a drop.
(EDIT: don't seem to be able to publish weekly next to daily, so pop open weekly with the RSI and see the RSI divergence since late 2013)
CMG is one of those cult stocks that never seem to die. Until they do. I will be looking for the price on the daily to hit an all time high in coming weeks (this is Chipotle, after all) and the daily RSI to be lower than the prior peak. That or a head and shoulders on the daily. Should be a great entry.
On the right: CMG daily with a negative divergence leading to a drop.
(EDIT: don't seem to be able to publish weekly next to daily, so pop open weekly with the RSI and see the RSI divergence since late 2013)
CMG is one of those cult stocks that never seem to die. Until they do. I will be looking for the price on the daily to hit an all time high in coming weeks (this is Chipotle, after all) and the daily RSI to be lower than the prior peak. That or a head and shoulders on the daily. Should be a great entry.