Hubert Senters here.
Let’s take a look at the markets. In this particular video we’re going to have to update our price targets because Chipotle has lasted through all of them. So I’m going to remove these. As you can see they’ve all been met and we have to reset this bad boy. That’s always a good problem we have.
We’re just going to use a basic fibonacci extension or it could be called projection in your software. It just all depends to what your software labels to that. In mine I’m using Trade Station so it’s going to be a fibonacci price extension lines. Now, how this tool works is I’ve got to pick a low and then a high and then a higher low.
So you can see that line low, high, higher low. Pretty simple. What we’re going to do is we’re going to go low, high, higher low. And then it will tell us where this equity Chipotle next is going to grow which is delicious by the way. It might have a little bit of run end with resistance. Next resistance area $1,805, $1,912 and $1,977.
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Good luck. Hope it helps. See you on the next video.