Chipotle Mexican Grill $CMG Trading Report

November 12, 2023, 11:30 am ET, BY Billy- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CMG

• Buy CMG slightly over 2069.12 target 2266.51 stop loss @ 2063.14 Details

The technical summary data tells us to buy CMG near 2069.12 with an upside target of 2266.51. This data also tells us to set a stop loss @ 2063.14 to protect against excessive loss in case the stock begins to move against the trade. 2069.12 is the first level of support below 2120.58 , and by rule, any test of support is a buy signal. In this case, support 2069.12 is being tested, a buy signal would exist.

• Short CMG slightly under 2266.51, target 2069.12, stop loss @ 2273.06 Details

The technical summary data is suggesting a short of CMG as it gets near 2266.51 with a downside target of 2069.12. We should have a stop loss in place at 2273.06though. 2266.51 is the first level of resistance above 2120.58, and by rule, any test of resistance is a short signal. In this case, if resistance 2266.51 is being tested, a short signal would exist.

Swing Trading Plans for CMG

• Buy CMG slightly over 2182.06, target n/a, Stop Loss @ 2175.76 Details

If 2182.06 begins to break higher, the technical summary data tells us to buy CMG just slightly over 2182.06, with an upside target of n/a. The data also tells us to set a stop loss @ 2175.76 in case the stock turns against the trade. 2182.06 is the first level of resistance above 2120.58, and by rule, any break above resistance is a buy signal. In this case, 2182.06, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CMG slightly near 2182.06, target 2069.12, Stop Loss @ 2188.36. Details

The technical summary data is suggesting a short of CMG if it tests 2182.06 with a downside target of 2069.12. We should have a stop loss in place at 2188.36 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 2182.06, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for CMG

• Buy CMG slightly over 2175.59, target 2182.06, Stop Loss @ 2170.51 Details

If 2175.59 begins to break higher, the technical summary data tells us to buy CMG just slightly over 2175.59, with an upside target of 2182.06. The data also tells us to set a stop loss @ 2170.51 in case the stock turns against the trade. 2175.59 is the first level of resistance above 2120.58, and by rule, any break above resistance is a buy signal. In this case, 2175.59, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CMG slightly near 2175.59, target 2105.47, Stop Loss @ 2180.67. Details

The technical summary data is suggesting a short of CMG if it tests 2175.59 with a downside target of 2105.47. We should have a stop loss in place at 2180.67 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 2175.59, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

This is a snapshot. Real Time Updates are available on our CMG Page.

CMG Ratings for November 12:

Support and Resistance Plot Chart for CMG

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