By Licia Leslie
July 31, 2024
Hi Shoppers,
After topping out just before the split, Chipotle Mexican Grill (TIcker: CMG) has collapsed:
Before the split buyers could not get enough of this stock taking up to $69.26.
It looks like they may have returned and they could be hungry.
The stock has caught a bid and is trading back into my pitchfork.
It needs to clear the 200 day moving average sitting at $52.68 before going long.
Once it does, I think it can close the gap and trade back to $55.10 and then $57.
Trade Review
Alcoa Aluminum (Ticker: AA) couldn’t get off the mat, it immediately traded lower so no trade was made.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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