I can’t remember or not if I’ve ever bought Chipotle Mexican Grill (CMG) before (as a stock), but considering my incredible passion for all things burritos, this particular long position that I just got in on is particularly exciting for me. In fact, if the stock can rebound and move higher, I’d rather my brokerage pay out the profits in burritos rather than actual money – just a personal choice.
Nonetheless, the risk/reward is great on the setup. Below $367, and I eat an enchillada instead, and above $412, I close out the position for a nice profit and begin considering a future as a CMG franchisee.
Oh yes, I got in at $378.44, which as of this posting, is still prime for picking.
Here’s the CMG trade setup.
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