{"id":40604,"date":"2017-08-23T17:57:32","date_gmt":"2017-08-24T00:57:32","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=40604"},"modified":"2017-08-23T17:57:32","modified_gmt":"2017-08-24T00:57:32","slug":"chipotle-mexican-grill-lesson-in-trending","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2017\/08\/23\/chipotle-mexican-grill-lesson-in-trending\/","title":{"rendered":"Chipotle Mexican Grill: A Quick Lesson In Trending"},"content":{"rendered":"

Last week<\/a>, I thought a quick burst of morning buying in Chipotle Mexican Grill (CMG) was a potentially bullish sign for the hapless CMG. I anticipated buyers might finally be ready to stave off the relentless selling pressure. I even bought a call option and shares as a part of my speculation. So far, the buyers have yet to make a lasting appearance, I stopped out my positions in three days, and switch right back to a bearish positioning. With hindsight, I can see I made a very premature trade on my strategy for picking bottoms<\/a>.<\/p>\n


\n
\"Chipotle<\/a>
Chipotle Mexican Grill (CMG) has suffered nearly relentless selling pressure for almost 3 months.<\/figcaption><\/figure>
\nSource: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

CMG is down 11.9% year-to-date and sits at a 4 1\/2 year low. Yesterday’s Deustche Bank (DB) reiteration of a sell rating and setting of a lower price target to $250 confirmed the downside bias. Trading volume picked up today to 1.8M which is 50% higher than the 1.2M 90-day average. I used the selling to lock in profits on my put options. <\/p>\n

The technicals are leaning strongly against CMG. This latest bout of selling is a classic lesson in the power of trending. Ever since CMG broke down below support at its 50-day moving average (DMA), the stock has failed to break away from the downward trending lower Bollinger Bands (BB). For about half this time, CMG has slipped along the lower-BB. This combination is a sure sign of dedicated selling pressure. So, until CMG can deliver at least two positive days above its lower-BB channel, I will not even begin to consider a potential change in the downward trend.<\/p>\n


\n
\"With<\/a>
With deeply bearish sentiment weighing on CMG, it is no surprise 18% of the float is sold short.<\/figcaption><\/figure>
\nSource: StockTwits.com<\/a><\/strong>
\n<\/center><\/p>\n

Be careful out there!<\/p>\n

Full disclosure: no positions<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week, I thought a quick burst of morning buying in Chipotle Mexican Grill (CMG) was a potentially bullish sign for the hapless CMG. I anticipated buyers might finally be ready to stave off the relentless selling pressure. I even bought a call option and shares as a part of my speculation. So far, the … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[584,483,1054,62],"tags":[747,746,129,419],"class_list":["post-40604","post","type-post","status-publish","format-standard","hentry","category-bollinger-band","category-breakdown","category-dining","category-technical-analysis","tag-chipotle-mexican-grill","tag-cmg","tag-market-sentiment","tag-short-interest"],"yoast_head":"\nChipotle Mexican Grill: A Quick Lesson In Trending - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2017\/08\/23\/chipotle-mexican-grill-lesson-in-trending\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chipotle Mexican Grill: A Quick Lesson In Trending - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"Last week, I thought a quick burst of morning buying in Chipotle Mexican Grill (CMG) was a potentially bullish sign for the hapless CMG. 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