This is an excellent time to buy a burrito. In fact go ahead and buy the Chipotle Mexican Grill, CMG, stock. The monthly chart below shows several reasons to jump in now. First, the price moved back above the 20 month Simple Moving Average (SMA) in April. It has not been above that since July 2012, and the last time that is went highe, was in July 2009 and it trended higher for nearly 3 years.
Chipotle Mexican Grill, $CMG
Next there is that spooky Elliott Wave thing. Moving back higher in November, it completed Wave (IV) and it is moving higher toward completion of Wave (V). A standard measure would be a 61.8% move of Wave (III) or $250, which would take it to 484. The Relative Strength Index (RSI) is also in bullish territory, and rising with a Moving Average Convergence Divergence indicator (MACD), turning back higher and about to cross to positive. Not enough to convince you? Well I got these coupons in the mail today too.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Buy The Burrito
Published 05/02/2013, 12:44 AM
Updated 05/14/2017, 06:45 AM
Buy The Burrito
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