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CHIPOTLE MEXICAN GRILL INCCHIPOTLE MEXICAN GRILL INCCHIPOTLE MEXICAN GRILL INC

CHIPOTLE MEXICAN GRILL INC

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CHMG trade ideas

CMG Nested WedgiesI keep telling people not to short this PoS bubble stock along with any of the restaurant bubble stocks because there's no indication of when it will finally break. Typically it's on earnings, right? Restaurant stocks barely dip even when the market is selling off, look at McD. Some other poster suggested a wedgie, another suggested earnings. Looks like CMG has a pair of nested wedgies (a double wedgie!), so it might dip a little here, but don't expect it to tank until earnings. Note: Stocks can actually break upwards out of a wedgie, TXN and oil did, if you look up some of my old posts. In any case, the formation lines up with earnings, expect a big movement up or down. I'm not touching this stock, just like I wouldn't touch their food. Chitpotle gives me the chits, (Serious.) Also, slow STO chart (not shown) has the funniest pattern I've seen.
NYSE:CMG
by hungry_hippo
3
May finally be time to get short CMGCMG has had a helluva run, but I am of the opinion that it is reaching the top of it's 3rd Wave up, sitting right at the 1.618 fib extension of Wave 1. Also very near current channel resistance trend line, which adds to the short idea. Personally I look for the pullback to drag CMG back down to the low 600's, around 615-620 area most likely. Crazy as it may sound however, I really do think this is only the 3rd wave up, and expect to see a 5th Wave extension, in this case quite possibly taking CMG all the way up to what some would say is the astronomical price range of low 1300's. Rough sketch of candle path on chart. In any event, I am looking for CMG to run out of gas very near current price area, and will be initiating a short position very soon, most likely before the end of next week. Stochastic has also been coiling very smoothly near its top range, and I look for a breakout to the downside to very nearly coincide with stock price decline. Happy hunting, and GLTA!!
NYSE:CMGShort
by UnknownUnicorn1314136
3
CMG - A top that may offer a short via put spreads?"Swing trader" has about 10 different indicators - but I like watching the genie Cycles with a Volume confirmation. Additionally, I have found you need to review the 1, 2, 4-hour cycles, and the daily cycles to research which indicator works best for timing particular stocks. This overpriced stinker I acknowledge appears to be continuing its mind-blowing uptrend. How a stock this overvalued only has 6% short interest is beyond me, also - but for the reasons below. I am not declaring a top, but rather the decent potential for a MINIMUM 20 point tradeoff recent highs: THIS chart (top area) shows a 4-hour cycle (2 plots daily) with the S&P in orange to see how the stock trades with (or not) the overall mkt. Overall - high correlation. I have been wrong on CMG in the past (though I traded more on traditional technicals then) and I think CMG is and has been manipulated like CRAZY in the past - which the surprisingly small 6% short interest (smart money) may be confirming . I simply cannot comprehend CMG's valuation - using ANY metrics! This chart's sell signal using metrics that are not mine has led to my taking short positions on CMG again. Do your own homework because CMG has fooled and hurt many of us in the past --BUT the chart here indicates a sell on a 4-hour cycle and looking at past cycles it could extend for several days - more if we are lucky. I suggest vertical put spreads in the AUG 30 and Sept 6 series - and I took a flier with a handful of straight puts further out of the money. I'll leave the specific trade to those of you who have your own styles but think we could get AT LEAST another 20 points down to below 800 - and easily lower IF we get some help from overall market direction. A nominal sell-off in the next few days could help hedge fund money go short - though they have always traded as though they know something we don't! Ideas welcome.
NYSE:CMGShort
by trzcb8