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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- 5/17/2024 -
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Chipotle Mexican Grill (CMG) Technical Analysis

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Summary:
Weekly :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtOversold sectorBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Chipotle Mexican Grill (CMG). During the week, the CMG gave back -25.80 points, or -0.80%, and closed at 3213.43 on Friday, May 17, 2024. Weekly volume was -21% below average.

CMG is a member of Consumer Discretionary Sector. Consumer Discretionary is the 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 (2079.83) 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 3260.00 on May 10, 2024. CMG gained -1491.36 points, or -84.32%, in 30 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 2999.10 and resistance is at 3486.60. 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, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. 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 3260.00 on May 10, 2024. CMG gained -1055.91 points, or -47.91%, in 123 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 3027.69 and resistance is at 3333.91. 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. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.54
Williams' Percentage Range (W%R) 29.20
Lane's Stochastic (%D-Slow) 36.17
Greed/Fear Indicator (GFI) 52.50
Moving Average Converg./Diverg. (MACD) 78.04
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.12
Overbought
Williams' Percentage Range (W%R) 10.90
Overbought
Lane's Stochastic (%D-Slow) 85.38
Overbought
Greed/Fear Indicator (GFI) 80.72
Overbought
Moving Average Converg./Diverg. (MACD) 228.66
Trading Signals
Description Value Chart
Monthly Trendline Resistance 3486.60
Weekly Trendline Resistance 3333.91
Upper Bollinger Band 3330.53
Parabolic System 3253.48
Price 3213.43
Weekly Stochastic Crossing 3209.28
Daily Stochastic Crossing 3176.90
20 Day Moving Average 3138.90
Weekly Trendline Support 3027.69
Monthly Trendline Support 2999.10
50 Day Moving Average 2975.70
Lower Bollinger Band 2923.29
Quarterly Trendline Resistance 2590.52
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 1
Industry Restaurants 37
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 3260.00
High Date 05/10/2024
Low 3138.49
Low Date 05/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 3333.91
Support 3027.69
Low 2204.09
Low Date 01/08/2024
High 3260.00
High Date 05/10/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 3486.60
Support 2999.10
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 2590.52
Support 2079.83
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.