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Stock Market & Financial Investment News

News Breaks
July 21, 2014
11:37 EDTCMGChipotle technical view ahead of earnings
The stock has been a strong out-performer in the last three months, trading up nearly 17%. Of late upside momentum has stalled which is typical for a strong advance into earnings. On a short time frame this looks like nothing of concern. Pulling back to a multi-year view however presents a more disturbing picture. There is a potential double top in the stock that a negative catalyst tonight could set in motion. On an increasing band of negative surprises in earnings or outlook, which may include profit margin concerns due to higher food costs, supports below are at $564.76, $538.26, and then at $518.54. A move below $500 would confirm the double top was on its way to a second set of downside objectives as the $500 level is the mid-point of the familiar "M" shape of a double top pattern. If the news exceeds expectations, resistance would be at $614.20 and then at $622.90 which is the 52-week high and life high for the shares. A breakout above the life high could set up a run to $650. It should be noted that the short base for the stock is close to a 1-year low. That could increase downside reactions, if there are any, as there is relatively little in the way of potential buy-to-cover demand.
News For CMG From The Last 14 Days
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September 15, 2014
09:28 EDTCMGChipotle Q3 sales estimate 18%-19% vs. consensus 16.5% at ITG Research
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06:11 EDTCMGYum! Brands looking beyond pizza, tacos to Banh concept, USA Today reports
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September 10, 2014
17:36 EDTCMGPenn State Chipotle closed after workers quit, The Daily Collegian says
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08:42 EDTCMGChipotle price target raised to $775 from $700 at Oppenheimer
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September 9, 2014
10:35 EDTCMGGundlach says Chipotle shares 'horribly' overvalued
DoubleLine Capital's Jeff Gundlach is speaking on CNBC.

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