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Advanced TA SearchArchive
- 5/3/2024 -
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Chipotle Mexican Grill (CMG) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Chipotle Mexican Grill (CMG). During the week, the CMG gave back -31.59 points, or -0.99%, and closed at 3155.38 on Friday, May 3, 2024. CMG was trading at average weekly trading volume.
 Long-term trend: [See CMG long-term trend chart]
A long-term uptrend had started on June 14, 2022 at 1196.28 and reached 3241.42 on April 29, 2024. CMG gained -2045.14 points, or -170.96%, in 97 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2060.09) 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 3241.42 on April 29, 2024. CMG gained -1472.78 points, or -83.27%, in 28 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 2915.32 and resistance is at 3375.72. 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 Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD 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. 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 January 8, 2024 at 2204.09 and reached 3241.42 on April 29, 2024. CMG gained -1037.33 points, or -47.06%, in 112 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 3029.46 and resistance is at 3347.83. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.
 Daily Technical Indicators: [See CMG daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since April 24, 2024. This is an indication that the short-term trend is up.
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