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Advanced TA SearchArchive
- 4/19/2024 -
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Chipotle Mexican Grill (CMG) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Chipotle Mexican Grill (CMG). During the week, the CMG dropped -88.49 points, or -2.99%, and closed at 2869.11 on Friday, April 19, 2024. CMG was trading at average weekly trading volume.
 Long-term trend: [See CMG long-term trend chart]
A long-term uptrend had started on June 14, 2022 at 1196.28 and reached 3023.98 on March 20, 2024. CMG gained -1827.70 points, or -152.78%, in 92 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2040.35) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See CMG medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 1768.64 and reached 3023.98 on March 20, 2024. CMG gained -1255.34 points, or -70.98%, in 22 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (3000.49) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See CMG weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See CMG short-term trend chart]
A short-term downtrend had started on April 11, 2024 at 3001.04 and reached 2846.18 on April 19, 2024. CMG lost 154.86 points, or 5.16%, in 8 days. The price is now at the 14.81% retracement level.
 Daily Technical Indicators: [See CMG daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 4.68% on Friday. It is 56.85% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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