Dip Into This Chipotle Trade, Not the Queso

We know queso didn't turn around the fortunes for Chipotle Mexican Grill (CMG) , but new management may be the answer. Between disappointing earnings and a new leadership announcement, CMG appears to have cemented a bottom as thick as their queso at $260.

Resistance awaits at $340 with $400 being the next level. As the stock hovers around the 10-week simple moving average, I would have to believe we'll trade in a range of $270 to $340 over the first half of 2018. That being said, secondary indicators such as volume, trend, and momentum hint that a breakout higher is more likely than a retest of the lows....163 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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