Shares of Chipotle Mexican Grill (CMG) surged higher today by over 12% on the back of solid financial results. Investors are cheering the public’s need for quick pickup/takeout food and burritos and bowls apparently can’t be beat. However, the stock has rallied from a March 2020 low of $415. This puts the net gain in just over a month at over 100%. That is a scary rise and investors should be careful. As a technical trader, I am seeing a high chance of profit to those that short Chipotle Mexican Grill.
The key to a position short Chipotle Mexican Grill is all about finding the right technical chart level to pull the trigger. That can be found easily by looking at the chart. There is an epic gap fill coming up quickly at $920. In addition, $940.28 is the all-time high also known as double top. With both of these levels are within about 2-3%, swing traders can accumulate a short trade on Chipotle Mexican Grill starting at the $920 and adding all the way up to the $940 level. A pull back of at least 10% should be expected.
A net gain of 803.33% through April 22nd, 2020 is a reality for members of Verified Investing Alerts. For investors who are sick of losing money as the markets whip due to the COVID-19, swing trading technical chart setups using the PPT Methodology is easy and insanely profitable. Swing trading using these methods allows smart investors to jump in at key levels and out for 10%+ gains in days. Master Trader Gareth Soloway has guided his members, actively swing trading stocks, using key technical levels for multiple profits of 10% almost every day (yesterday 3 winners of over 10% each). With the action in the equity markets, members are getting multiple trades a day (on average). See the VERIFIED track record HERE (scroll down on the page). Gareth consults for hedge funds but still helps average investors swing trade. Members get exact entry prices, stops, targets and daily videos that analyze the market, stock and current positions. The second Master Trader Gareth Soloway buys/sells a stock, members get a text/email alert to get them in/out of the trade in seconds. Join today and profit for life!