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Chipotle Mexican Grill Inc.
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|It was a fourth positive week after 3 consecutive negative weeks for the Chipotle Mexican Grill Inc. (CMG). During the week, the CMG climbed 2.17 points, or 0.68%, and closed at 322.16 on Friday, March 09, 2018. Weekly volume was -54% below average. |
CMG is a member of Services Sector. Services is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See CMG long-term trend chart]
A long-term downtrend had started on August 5, 2015 at 758.61 and reached 247.51 on February 9, 2018. CMG lost 511.10 points, or 67.37%, in 131 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 235.67 and resistance is at 341.50. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.
Medium-term trend: [See CMG medium-term trend chart]
A medium-term downtrend had started on May 16, 2017 at 499.00 and reached 247.51 on February 9, 2018. CMG lost 251.49 points, or 50.40%, in 38 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 235.28 and resistance is at 350.99. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See CMG weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 24, 2017. Use the following link to access a MACD help.
Short-term trend: [See CMG short-term trend chart]
A short-term uptrend had started on February 9, 2018 at 247.51 and reached 330.14 on February 27, 2018. CMG gained -82.63 points, or -33.38%, in 18 days. The price is now at the 9.66% retracement level.
Daily Technical Indicators: [See CMG daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since February 16, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.