Bullish Retrace Complete: Here Is The Chipotle Mexican Grill (CMG) Profit Target

After recently breaking out (I caught that trade perfectly), Chipotle Mexican Grill, Inc. (NYSE:CMG) has slowly pulled back to what we call the ‘scene of the crime’. The ‘scene of the crime’ is a retrace back to the breakout level. Think of it as a digestion of the breakout. Once the move been digested, the stock can surge dramatically higher again. This is exactly what has played out on shares of Chipotle Mexican Grill, Inc. (NYSE:CMG). It broke out above a major resistance trend line, retraced back to the breakout line, and is now starting its move to the upside. The big difference this time? It should surge dramatically higher to $550.00 as a target. That is a huge upside move.

 

 

Gareth Soloway

InTheMoneyStocks

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: