The Greedy Trader Weekly Analysis
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Daily RSI:> 70
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 11/24/2023 -
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Chipotle Mexican Grill (CMG) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergence
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It was a sixth positive week after 5 consecutive negative weeks for the Chipotle Mexican Grill (CMG). During the week, the CMG gained 57.45 points, or 2.66%, and closed at 2219.67 on Friday, November 24, 2023. Weekly volume was -42% below average.

Long-term trend: [See CMG long-term trend chart]
A long-term uptrend had started on June 14, 2022 at 1196.28 and reached 2225.00 on November 24, 2023. CMG gained -1028.72 points, or -85.99%, in 75 weeks. Price is near the trend high.

Medium-term trend: [See CMG medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 1768.64 and reached 2225.00 on November 24, 2023. CMG gained -456.36 points, or -25.80%, in 6 weeks. Price is near the trend high.

Weekly Technical Indicators: [See CMG weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly 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 links to access Lane's Stochastic 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 uptrend had started on November 22, 2023 at 2224.80 and reached 2225.00 on November 24, 2023. CMG gained -0.20 points, or -0.01%, in 2 days. The price is now at the 2665.00% retracement level.

Daily Technical Indicators: [See CMG daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since October 17, 2023. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 88.97
Overbought Bearish
Williams' Percentage Range (W%R) 5.40
Strong Overbought
Lane's Stochastic (%D-Slow) 92.96
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 92.17
Strong Overbought
Moving Average Converg./Diverg. (MACD) 75.20 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.55
Williams' Percentage Range (W%R) 4.40
Strong Overbought
Lane's Stochastic (%D-Slow) 80.67
Overbought
Greed/Fear Indicator (GFI) 79.43
Moving Average Converg./Diverg. (MACD) 31.27
Trading Signals
Description Value Chart
Upper Bollinger Band 2292.09
Daily Stochastic Crossing 2220.75
Price 2219.67
Weekly Stochastic Crossing 2194.61
Parabolic System 2180.13
20 Day Moving Average 2093.28
50 Day Moving Average 1945.60
Lower Bollinger Band 1898.44
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Restaurants 103
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 2224.80
Low Date 11/22/2023
High 2225.00
High Date 11/24/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2224.80
Low Date 11/22/2023
High 2225.00
High Date 11/24/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1768.64
Low Date 10/13/2023
High 2225.00
High Date 11/24/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1196.28
Low Date 06/14/2022
High 2225.00
High Date 11/24/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 247.51
Low Date 02/09/2018
High 2225.00
High Date 11/24/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.