Chipotle Mexican Grill, Inc. (NYSE:CMG) has recently run into an epic trend line that signals a longer term top in the stock. This trend line stretches back to 2007, 2012 and now 2013. Each time this level has been reached, the stock has pull back significantly. A pull back over the next 6 months could yield an easy target of $450.00.
Gareth Soloway
Chief Market...
Bearish Harmonic Pattern/Fibbonaci lined up with a Major Resistance Zone.
Looking for 1 more push before getting short.
Stochastic indicator is showing the stock is major over bought zone.
MACD is looking ready for a bearish cross over.
Aiming to get short between 420-430.
A small bearish MACD divergence is forming.
