CMG closes within prior day's range
CMG ended Thursday at 438.58 losing $6.09 (-1.37%). The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.
Thursday's trading range was $8.82 (1.98%), that's slightly below last trading month's daily average range of $11.10. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar. After moving higher in the previous session, Chipotle Mexican closed lower but above the prior day's open today, forming a bearish Harami Candle.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the close-by swing high at 447.71 where further buy stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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|Decisive Down Move||TQ Pro Members Only|
|Bearish Harami Candle||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
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