Chipotle (
CMG) just reported earnings and missed on both revenue and same-store sales. Transactions fell 4.9%, and the company lowered its full-year outlook — triggering a sharp decline on elevated volume.
Technically, we’re approaching a major confluence of support near the $43 area (both diagonal trendline support and historical horizontal level).
🔻 Indicators currently suggest continued selling pressure, so traders looking to buy the dip should remain cautious.
Trade Setup Idea:
- Watch for bullish reversal patterns (engulfing, double bottom, trend shift) on 15min–1hr charts
- Avoid premature entries; trend reversals often take time
-CMG Confirmation > prediction
📌 Keep alerts set. This one’s worth watching closely.
#CMG #Chipotle #TradingView #TechnicalAnalysis #SupportAndResistance #DipBuy #StocksToWatch
CMG) just reported earnings and missed on both revenue and same-store sales. Transactions fell 4.9%, and the company lowered its full-year outlook — triggering a sharp decline on elevated volume.Technically, we’re approaching a major confluence of support near the $43 area (both diagonal trendline support and historical horizontal level).
🔻 Indicators currently suggest continued selling pressure, so traders looking to buy the dip should remain cautious.
Trade Setup Idea:
- Watch for bullish reversal patterns (engulfing, double bottom, trend shift) on 15min–1hr charts
- Avoid premature entries; trend reversals often take time
-
CMG Confirmation > prediction📌 Keep alerts set. This one’s worth watching closely.
#CMG #Chipotle #TradingView #TechnicalAnalysis #SupportAndResistance #DipBuy #StocksToWatch
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.