The Chipotle Mexican Grill Trade Level That Investors Can Take A Bite Of

Leading restaurant stock Chipotle Mexican Grill, Inc. (NYSE:CMG) has been declining since early February 2015. Recently, on April 22, 2015 Chipotle Mexican Grill stock dropped by more than 40.0 points after reporting earnings. Today, Chipotle Mexican Grill stock is trading lower by $2.25 to $641.50 a share. The weekly chart has triggered a bearish inside bar pattern which signals further downside for the stock. Traders should now watch the $610.00 area for major chart support. This is a level where the institutional money will most likely support the equity in the near term.


Many stock analysts have cited that Chipotle Mexican Grill is a healthy alternative to other fast food restaurants. Just yesterday, Chipotle Mexican Grill announced that they would no longer use genetically modified foods (GMO). This could force other fast food restaurant chains to follow their lead.


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Nick Santiago

InTheMoneyStocks.com