Chipotle (CMG) at one time was the stock that everyone lost at when you tried to short it.
Well, that couldn’t be further from the truth now. From bad earnings to e-coli in their burritos, things keep getting worse and worse for the company and subsequently its stock.
At this point, I am showing that the $597-$600 range is going to be absolutely key for the stock to hold….otherwise it may actually drop another $100 before it finds meager support at $500.
Here’s my chart analysis of the almighty burrito:
