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Chipotle Mexican Grill, Inc. Message Board

  • sandyeggojake sandyeggojake Nov 27, 2012 2:04 PM Flag

    TA on $CMG: another putative breakdown of rising support line

    Just set a new day low and cut below the 50% swing retrace already.

    The classic swing rising support line was just broken, defined by the close of 10/22 and 11/14 plotted on log w/o AH. Putative gap fill reversal / double top. Expect test of 11/15 nadir at $253.39. If that breaks with a close below, classic double top target would be a new 52 wk low at $228.68.

    MACD histo on the daily seems to be rolling over for the third session. And for the second swing, can't even reach the MA(50)d which is still falling away from the MA(200)d.

    If this week closes below $265.15, it will be an extremely bearish outside reversal.

    Sell'em if you've got 'em.... or even if you don't.

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    • holy moly! like i said friday, load up for this week. my delta on options are 4 dollars a pt. that's 4k for each dollar drop and it's dropping fast!!!!!!! almost 7 pts now. that's 28k just today excluding yesterday's gain. more buy backs pls so i could load up.

      • 1 Reply to rlfadj
      • 11/28 2:22 PM update. Moving back up on the classic throwback attempt, but got smacked by the falling MA's and the 61.8% fib retrace of the two day high. Not testing the 50% retrace as it falls back.

        If the past is prolog, will fail right here before the throwback to the weekly rising former support line, now expected to be resistance. Under performance is glaring, even with the buyback. And the TTM squeeze alter just turned off on the day chart, so there is a lower risk of a squeeze.

        On the big picture, note $CMG is classically breaking the midline of the Andrews pitch fork going back to the entire history of $CMG. Found some support today at this line, but we expect it to be tested and crossed once again.

        This is were the smart money hedgies and institutions (like $MS) will be selling en mass. Right here.

366.15-1.87(-0.51%)12:04 PMEDT