CMG Shows Huge Upside
InTheMoneyStocks.com | Jan 18, 2017 03:58PM ET
After recently breaking out (I caught that trade perfectly), Chipotle Mexican Grill (NYSE:CMG) has slowly pulled back to what we call the 'scene of the crime' -- a retrace back to the breakout level. Think of it as a digestion of the breakout. Once the move has been digested, the stock can surge dramatically higher again.
That's exactly what has happened to 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.
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