One of the leading restaurant stocks in the stock market is Chipotle Mexican Grill Inc (NYSE:CMG). This stock has been extremely strong since 2008 when the stock traded as low as $36.86 a share. Today, Chipotle Mexican Grill Inc (NYSE:CMG) stock trades around $653.00 a share, so you can easily see the appreciation that this stock has had over the past six years. Recently, the stock made a short term top August 21st, 2014 at $697.92 a share. Since that time the stock has rolled over with many other leading restaurant stocks. Traders and investors should note that CMG stock has a major daily chart gap fill support level around the $590.00 level. While I do not expect the stock to trade straight down to that level the gap area will be major daily chart support for the stock when tested. This is an area where the stock would stage a bounce as institutional money will often step in around these gap fill levels.
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Nick SantiagoChief Market Strategist
www.InTheMoneyStocks.com
