The Greedy Trader Weekly Analysis
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Yearly Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 6/7/2024 -
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Chipotle Mexican Grill (CMG) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaOversold sector
Daily :Williams' Percentage Range is overboughtThe price has risen above the Parabolic SARPrice is near the Fibonacci 61.8% retracement levelThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 3 consecutive negative weeks for the Chipotle Mexican Grill (CMG). During the week, the CMG gained 39.50 points, or 1.26%, and closed at 3169.02 on Friday, June 7, 2024. Weekly volume was 25% above average.

CMG is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See CMG long-term trend chart]
A long-term uptrend had started on June 14, 2022 at 1196.28 and reached 3260.00 on May 10, 2024. CMG gained -2063.72 points, or -172.51%, in 99 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2107.46) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 3260.00 on May 10, 2024. CMG gained -1491.36 points, or -84.32%, in 30 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 3119.03 and resistance is at 3379.00. 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 medium-term trend.

Weekly Technical Indicators: [See CMG weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 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 low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See CMG short-term trend chart]
A short-term downtrend had started on May 10, 2024 at 3260.00 and reached 3029.64 on June 3, 2024. CMG lost 230.36 points, or 7.07%, in 24 days. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See CMG daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is below its signal line since May 13, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.16
Williams' Percentage Range (W%R) 14.50
Overbought
Lane's Stochastic (%D-Slow) 61.96
Greed/Fear Indicator (GFI) 64.22
Moving Average Converg./Diverg. (MACD) 22.99
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.33
Williams' Percentage Range (W%R) 3.40
Strong Overbought
Lane's Stochastic (%D-Slow) 79.37
Greed/Fear Indicator (GFI) 79.28
Moving Average Converg./Diverg. (MACD) 241.85
Trading Signals
Description Value Chart
Monthly Trendline Resistance 3379.00
Upper Bollinger Band 3223.89
Daily Stochastic Crossing 3177.35
Price 3169.02
Weekly Stochastic Crossing 3161.30
20 Day Moving Average 3153.88
Monthly Trendline Support 3119.03
50 Day Moving Average 3067.82
Lower Bollinger Band 3046.98
Parabolic System 3046.72
Quarterly Trendline Resistance 2618.16
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 2
Industry Restaurants 44
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 3029.64
Low Date 06/03/2024
High 3239.99
High Date 06/07/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 3260.00
High Date 05/10/2024
Low 3029.64
Low Date 06/03/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 3379.00
Support 3119.03
Low 1768.64
Low Date 10/13/2023
High 3260.00
High Date 05/10/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2618.16
Support 2107.46
Low 1196.28
Low Date 06/14/2022
High 3260.00
High Date 05/10/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 247.51
Low Date 02/09/2018
High 3260.00
High Date 05/10/2024
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.