CMG breaks below previous session low


Chipotle Mexican Grill Inc. (CMG) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team

Highlights

CMG closes below its opening price unable to hold early session gains
CMG ends the day on a bearish note closing near the low of the day
CMG breaks below previous session low

Overview

CMG finished the week 1.37% higher at 457.21 after losing $1.84 (-0.4%) today. Trading $2.40 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 458.40, the share confirms its breakout through the previous session's low having traded $1.73 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (CMG as at Jul 13, 2018):

Daily technical analysis candlestick chart for Chipotle Mexican Grill Inc. (CMG) as at Jul 13, 2018

Friday's trading range was $4.33 (0.94%), that's far below last trading month's daily average range of $10.54. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Prices are trading close to a key support level at 452.17.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Buying might accelerate should prices move above the close-by swing high at 464.39 where further buy stops could get activated. Selling might speed up should prices move below the nearby swing low at 452.17 where further sell stops could get triggered. With prices trading close to this year's high at 474.46, upside momentum might accelerate should Chipotle Mexican be able to break out to new highs for the year.


Market Conditions for CMG as at Jul 13, 2018

Loading Market Conditions for CMG (Chipotle Mexican Grill Inc.)...
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