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Options Trading News

May 8, 2012  Tue 12:14 PM CT

CMG: SEE CHART GET CHAIN FIND STRATEGIES
Chipotle Mexican Grill has been one of the market's notable high flyers for years, but its chart indicates that it may be approaching some downside inflection points.  

Shares of the restaurant chain smoked through the $400 level as it fell sharply today, and the next potential support area is around the March 6 low of $386.44 and close of $387.30 as shown on the six-month chart below.

CMG is down about 2 percent to $399 this afternoon. If the stock closes below $400, it will add validity to failure at that support level.  

CMG

(Chart courtesy of tradeMONSTER)


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