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.
An Ascending Broadening Wedge has put price slightly above the strong uptrend in green
Price will fall back to this uptrend and allow a recovery at this level ( as indicated by the price label)
Daily Chart
Neutral pattern until trendline is broken.
Horizontal trading channel with the top trendline being resistance and the bottom is support.
5 candles touched or came close support at last low.
Targets for a break to the downside are over the rectangle, with target 1 in larger type. Target 2 in smaller type if target 1 is passed.
The same for targets for a break to...
Chipotle has been performed and managed well over the years! It has discounted more than 30% and in a bear market look to build yor long term portfolio with these areas to buy!
We got another pretty solid setup on CMG. If we can break this support there is a nice pot of gold at the end of the rainbow. Not a cheap option play, but also makes a lot of money. This could bounce here and retest, so put this one on your watch list and set alarm so you don't forget it.
Since 1624 and it feels like its been literally since 1624 the year. My targets below for this. Not sure if its worth getting in short at this point but might be worth looking for a bounce at the lower target.
-Price reacting off of weekly Demand
-Price reacting off of tested 4x times supply.
price has gone deeper and deeper into
daily supply so not many sell orders left as
price needs to search higher and higher
for the next stack of sellers.
-I'm long biased and like looking for buys if
price pulls back into demand or breaks out.
Why I feel it is....
Since September, CMG is selling off (slow mover) ....
I think you can see all the reasons why.
Confirmation for the next downturn will be a break of the wedge, a break of the level in green. That would be your confirmation.
I can't say I ever ate here... I may be in a minority with that but I think I may love their stock. If this can push up a little... just a little more.... Take a step back like you should with every stock and realize what is going on. Can you spot it? If you can't, time to pick up some books and do some homework. This will be nothing less than amazing,...
