The Greedy Trader Weekly Analysis
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Daily D%-Slow:> 80
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Lane's Stochastic (%D-Slow)

The Lane's Stochastic indicator developed by George Lane is one of the most useful and widely used momentum oscillators in technical analysis. Lane's Stochastic oscillator uses four indicators to combine relative strength with moving average methods. %K is an un-smoothed RSI. %D is a moving average of %K (fast stochastic). %D-Slow is a longer term moving average of %K, and finally %D-Slow (slow stochastic) Moving Avg. is another moving average. Like other overbought oversold oscillators, they are normalized within a scale of 0 to 100. Buy/sell signals are generated by %D stochastic crossover with its moving average above 80%, for overvalued, or below 20%, for undervalued stocks. The divergence between price and indicator is the most important buy/sell stocks trading signal. Lane's Stochastic bullish divergence/bearish divergence should be considered together with other stock market trading alerts, trading indicator and technical trading techniques.

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- 3/15/2024 -
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Chipotle Mexican Grill (CMG) Technical Analysis

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Summary:
Weekly :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index bearish divergenceBroken trend resistance line
Daily :Lane's Stochastic bearish divergence
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It was a first positive week for the Chipotle Mexican Grill (CMG). During the week, the CMG gained 71.39 points, or 2.66%, and closed at 2757.51 on Friday, March 15, 2024. Weekly volume was -21% below average.

Long-term trend: [See CMG long-term trend chart]
A long-term uptrend had started on June 14, 2022 at 1196.28 and reached 2775.66 on March 14, 2024. CMG gained -1579.38 points, or -132.02%, in 91 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (1992.98) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See CMG medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 1768.64 and reached 2775.66 on March 14, 2024. CMG gained -1007.02 points, or -56.94%, in 21 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 2670.76 and resistance is at 3032.48. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See CMG weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Relative Strength Index has bearish divergence. Use the following links to access the Relative Strength Index help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See CMG short-term trend chart]
A short-term uptrend had started on February 21, 2024 at 2557.64 and reached 2775.66 on March 14, 2024. CMG gained -218.02 points, or -8.52%, in 22 days. The price is now at the 8.32% retracement level.

Daily Technical Indicators: [See CMG daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence.

The daily MACD line is below its signal line since February 20, 2024. The distance between MACD and the signal line is low and getting smaller.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.97
Williams' Percentage Range (W%R) 22.00
Lane's Stochastic (%D-Slow) 77.53
Bearish
Greed/Fear Indicator (GFI) 75.16
Moving Average Converg./Diverg. (MACD) 63.16
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.18
Overbought Bearish
Williams' Percentage Range (W%R) 4.90
Strong Overbought
Lane's Stochastic (%D-Slow) 86.70
Overbought
Greed/Fear Indicator (GFI) 83.21
Overbought
Moving Average Converg./Diverg. (MACD) 148.78
Trading Signals
Description Value Chart
Monthly Trendline Resistance 3032.48
Upper Bollinger Band 2767.43
Price 2757.51
Daily Stochastic Crossing 2754.59
Weekly Stochastic Crossing 2721.49
20 Day Moving Average 2674.32
Monthly Trendline Support 2670.76
Parabolic System 2625.17
Lower Bollinger Band 2565.17
50 Day Moving Average 2510.92
Quarterly Trendline Resistance 2503.67
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Restaurants 54
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 2557.64
Low Date 02/21/2024
High 2775.66
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2204.09
Low Date 01/08/2024
High 2775.66
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 3032.48
Support 2670.76
Low 1768.64
Low Date 10/13/2023
High 2775.66
High Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2503.67
Support 1992.98
Low 1196.28
Low Date 06/14/2022
High 2775.66
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 247.51
Low Date 02/09/2018
High 2775.66
High Date 03/14/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.