Hubert Senters here.
Let’s take a look at Chipotle. I did a video I think last week making fun of Chipotle. I always call it Salmonella because they have a practice. They just have bad luck with food practices for whatever reason. And I think I did a video on when they made an announcement they were going to hire the CEO of Taco Bell and I think it was a great move.
But look I don’t really care what they do. As long as the price section is above the cloud I am going to tell you it’s a long. If it’s below the cloud I’m going tell you it’s a short so I get a little bit of crow here.
And heads up if you’re not ok with being wrong on a lot of stuff and trading. Do yourself a favor and don’t ever trade because you’re going to be wrong on lots of stuff. It’s just how it works.
Anyway, it’s finally came back above the cloud today which is good because a lot of the markets were down today and CMG was above the clouds so I like that.
Now, you still have a little bit of resistance that needs work through. But it’s starting to look better. I mean if it can get through this area right here of $345 and it’s at $317 that’s doable with a stock that’s got a high beta like that if can get above $345.
If you’re risky in nature you go ahead and go long right now at $317 with whatever stop you’re comfortable with and the target could be $345.
If you’re more risk averse like I am I’d wait until it gets about $345 and then I would get long. And then what I would try to do would be to target this area right here from the down to the low so.
If it gets above $345-ish, I would target the area of $373, $403 and then if it clears that target would be $450 but if this thing drops back below the cloud, I’ll be talking bad about it again.
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Good luck. Hope it helps and I’ll see you on the next video.
Hubert.
