Market Overview

Chipotle Longs Feeling Queasy, Shares Down $30 This Week

Share:
Related CMG
Analyst: Chipotle's Food Safety Issues Are Only Temporary
In The Era Of 'Fake News,' Fake Filings Can Impact Stocks
Bear Burritos At Chipotle Mexican Grill (Seeking Alpha)

Chipotle Mexican Grill, Inc. (NYSE: CMG) shares are trading lower by $12.62 (3 percent) at $416.58 in Thursday's session. The issue has shed nearly $30 since Monday's close of $445.27. There has been no specific news to account for the weakness in a strong tape for most of this week.

After a lower open, it could not reclaim Wednesday's close ($429.20), peaking at $427.20 before continuing its move lower. It has continued to make lows for the session with the current low standing at $416.49.

Related Link: Which Is Healthier: McDonald's Or Chipotle? The Answer Could Surprise You

If the decline continues, there may additional support at its April 27 low ($415). Beneath that level, the next low on the daily charts doesn't come in until its January 13 low ($496.65).

Posted-In: Technicals Restaurants Intraday Update Movers Trading Ideas General

 

Related Articles (CMG)

View Comments and Join the Discussion!