Chipotle Mexican Grill - Target Exceeded - Take Profits
As per my 14/06 report:
"Chipotle Mexican Grill (CMG, $1364) | The share has breached the downward trend line extending back to the peak of 19 April, while potentially developing a double bottom formation. I'm looking for a minor retracement and an eventually break of the mid-point to trigger the setup. Note the daily RSI now have crossed back above the weekly RSI. Trade Levels: Buy on a break above $1374. Stop-loss: $1348. Target Range: $1422-$1433."
Good run over last 10 trading days. Now trading $1497.
Take profits into the weekend.
"Chipotle Mexican Grill (CMG, $1364) | The share has breached the downward trend line extending back to the peak of 19 April, while potentially developing a double bottom formation. I'm looking for a minor retracement and an eventually break of the mid-point to trigger the setup. Note the daily RSI now have crossed back above the weekly RSI. Trade Levels: Buy on a break above $1374. Stop-loss: $1348. Target Range: $1422-$1433."
Good run over last 10 trading days. Now trading $1497.
Take profits into the weekend.
