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Rant & Rave Blog

Major Breakout On Chipotle Mexican Grill (CMG) For Investor Buy

Posted by Gareth Soloway Friday, September 22, 2017, 03:10PM ET

Read 414 times

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) are breaking out on the daily stock chart. The stock has started acting healthier after it put in a major bullish bottoming tail four days ago and hedge fund manager Bill Ackman defended it on CNBC. His valid points seem to have swayed investors into buying the name at this discounted price. The triangle pattern which has formed over the last few months is now seeing price pop above the upper trend-line. This is the breakout in action. Chipotle Mexican Grill has upside to $358.00 from its current $315.00 level. I will be looking for an entry come Monday.

 

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