Chipotle Mexican Grill Inc Stock Forecast
Chipotle Mexican Grill Inc stock price down 1.34% on Friday
(Updated on Apr 19, 2024)
The Chipotle Mexican Grill Inc stock price fell by -1.34% on the last day (Friday, 19th Apr 2024) from $2,907.97 to $2,869.11. During the last trading day the stock fluctuated 2.33% from a day low at $2,847.50 to a day high of $2,913.84. The price has been going up and down for this period, and there has been a -1.25% loss for the last 2 weeks. Volume has increased on the last day by 100 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 311 thousand shares were bought and sold for approximately $892.31 million.
Given the current short-term trend, the stock is expected to rise 25.82% during the next 3 months and, with a 90% probability hold a price between $3,610.03 and $3,839.26 at the end of this 3-month period.
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CMG Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -4.07%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Chipotle Mexican Grill Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $2,929.61. On a fall, the stock will find some support from the long-term average at approximately $2,843.05. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for Chipotle Mexican Grill Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $2,666.99 and $2,487.74. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Chipotle Mexican Grill Inc finds support just below today's level at $2,666.99. If this is broken, then the next support from accumulated volume will be at $2,487.74 and $2,470.85.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $66.34 between high and low, or 2.33%. For the last week the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: $2,749.80 (-4.16%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (CMG) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Chipotle Mexican Grill Inc to open at $2,876.82, and during the day (based on 14 day Average True Range), to move between $2,814.72 and $2,923.50, which gives a possible trading interval of +/-$54.39 (+/-1.90%) up or down from last closing price. If Chipotle Mexican Grill Inc takes out the full calculated possible swing range there will be an estimated 3.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2,895.00 (0.90%) than the support at $2,666.99 (7.04%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Chipotle Mexican Grill Inc will release earnings AMC on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $11.56. We will update the financials statements for Chipotle Mexican Grill Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.60% in the first trading day after earnings release.
Is Chipotle Mexican Grill Inc stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.281 Buy Candidate Unchanged
Predicted Opening Price for Chipotle Mexican Grill Inc of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$2,876.82 ( 0.269%) | $2,869.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CMG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2,943.16 | 2.58 % | |
R2 | 2,917.81 | 1.70 % | ||
R1 | 2,902.16 | 1.15 % | ||
Current price: | 2,869.11 | |||
Support | S1 | 2,851.47 | -0.615 % | |
S2 | 2,835.82 | -1.16 % | ||
S3 | 2,810.48 | -2.04 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2,955.53 | 3.01 % | |
R2 | 2,904.98 | 1.25 % | ||
R1 | 2,895.00 | 0.90 % | ||
Current price | 2,869.11 | |||
Support | S1 | 2,666.99 | -7.04% | |
S2 | 2,487.74 | -13.29% | ||
S3 | 2,470.85 | -13.88% |
CMG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 03, 2020 | Dec 04, 2020 | Dec 15, 2020 | $0.200 | 0.0149% |
FAQ
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