Watch for another breakout in Chipotle (CMG) – this time in the form of an ascending triangle. The stock looks solid enough for an upward move into the $560’s to $570’s

I like the stop-loss placement as well on this trade, as you can easily place it just below the short-term uptrend that helps form the ascending triangle. So that if I am wrong on the breakout, the loss is minimum. 

Here is the CMG trade setup:

cmg-1 

Source: StockingCMG.com

You Might Like

  • Swing Trading Using Volume Analysis

  • The Psychology of Swing Trading and Winning the Mental Game

  • Building Your Trading Strategy for Lasting Success