Market Overview

Chipotle Poised For Its Second Two-Day Rally In August

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Chipotle Mexican Grill, Inc. (NYSE: CMG) shares are trading higher by $6.70 (2.3 percent) at $308.62 in Friday's session.

It's having some follow-through on its nearly $5 gain from Thursday ($297.09 to $301.92). That rally was instigated by an upgrade at Stephens. Before Friday's open, Standpoint Research changed its rating from Underperform to Hold.

After a flat open, Chipotle tapered off but found support about $1.00 under Thursday's close ($301.92) at $300.85 and embarked on a rally. At this time, it has found intraday resistance just above Tuesday's high ($310.00) as $310.63 stands as the high for the session as of 12:45 p.m. EST.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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