retest this high. clear the previous highs.
This is not a financial advice, if you like trading stocks you can have this.
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- weekly is forming right shoulder in distribution cycle right at 1600 psych + positive gamma level
- consistent with /ES local top of 4060 (or 4200 on impulse wave)
- invalidated if break above 1630s
- high risk counter trend trade against current market conditions & positive gamma ratios
- BTO Feb 1400p @ 10.85
- IV on puts is cheap + upcoming ER should...
Looking at the Chipotle Mexican Grill CMG options chain today, i would buy the $1200 puts with
2022-9-16 expiration date for about
$36.42 premium.
Looking forward to read your opinion about it.
$CMG I believe we can see low prices towards the end of the year. A COVID free holiday season approaching who's going to be eating Chipotle instead of turkey? :) GLTA!
So, here we see CMG Weekly. Big wide range over 7+ years.
What's most interesting to me is we are certainly at the top of that range.
Add to this that we are almost exactly 2x the width of the C19 fall.
Oh, and don't get me started on EPS and Price/Sales metrics, not that those matter, ever.
But just overall, C19 is still a thing, different states are different...
Rejected off upper 2SD Bollinger Band and all time high to close yesterday with hanging man formation at pre-pandemic price. Daily RSI coming off overbought and MACD crossing. P/E ratio above 78. Risk/reward certainly favors the downside, retreating into the volume value area.
Shorting this baby because:
1. Hammer candlestick on daily
2. Triangle forming with two red candles already
3. Price touching upper Bollinger Band
4. TD Sequential is at count #9. One of the next two candles will be a TD count #1
This is like a ripe avocado about to fall and get smashed into a nice little side of guac. I say "little" because the reward on the...
