Chipotle Technicals Point Higher Says Founder of Alpha Capture

Alpha Capture Founder and CMT Jon Boorman says he finds Chipotle Mexican Grill, Inc.’s CMG technicals constructive for further gains for at least weeks. Boorman was a guest on Benzinga’s #PreMarket Prep, where he discussed chart setups and risk.

For Chipotle, Boorman noted that he is long the stock with a stop at $664, beneath the early January lows. Boorman said that his constant risk-focused outlook determines his position sizing. So, while his stop in Chipotle is more than 6 percent from current prices, he will not risk more than 0.5 percent of his portfolio.

Chipotle reports earnings on Tuesday. Analysts are expecting EPS of $3.78, up from $2.53 a year ago.

Check out the full interview below:

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