adriel.arrasmith
Long

BUY CMG For $540/$600

NYSE:CMG   CHIPOTLE MEXICAN GRILL INC
29 0 1
10 months ago
CMG             has sold quite significantly based on technicals and all of the past news of Ecoli outbreaks. The damage has been done and we have now based. We have held a major trendline , key area of $400, with a weekly MACD crossover, and then finally we have completed a C wave at the .886 fib level hinting to a future gartley or bat pattern more than likely. Buying now at $446 with a stop at $431 would offer more than 6:1 risk/reward targeting $540 where we have major resistance. The 2nd target will be the $600 area.
10 months ago
Comment: Well, that was over quick. A great spot to retry a long against with a stop below $399.
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