Chipotle Mexican Grill Inc Stock Forecast
Green day on Thursday for Chipotle Mexican Grill Inc
(Updated on Apr 18, 2024)
The Chipotle Mexican Grill Inc stock price gained 0.173% on the last trading day (Thursday, 18th Apr 2024), rising from $2,902.96 to $2,907.97. During the last trading day the stock fluctuated 1.49% from a day low at $2,897.67 to a day high of $2,940.84. The price has risen in 6 of the last 10 days and is up by 1.82% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 211 thousand shares were bought and sold for approximately $613.45 million.
Given the current short-term trend, the stock is expected to rise 26.87% during the next 3 months and, with a 90% probability hold a price between $3,689.40 and $3,860.29 at the end of this 3-month period.
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CMG Signals & Forecast
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 $2,943.41. On a fall, the stock will find some support from the long-term average at approximately $2,837.89. 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. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -2.77%. 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).
Support, Risk & Stop-loss for Chipotle Mexican Grill Inc stock
Chipotle Mexican Grill Inc finds support from accumulated volume at $2,895.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $43.17 between high and low, or 1.49%. For the last week the stock has had daily average volatility of 1.61%.
Our recommended stop-loss: $2,767.52 (-4.83%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (CMG) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Chipotle Mexican Grill Inc to open at $2,915.49, and during the day (based on 14 day Average True Range), to move between $2,854.54 and $2,961.40, which gives a possible trading interval of +/-$53.43 (+/-1.84%) 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 3.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2,895.00 (0.45%) than the resistance at $2,955.53 (1.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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 $11.51. 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 short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Chipotle Mexican Grill Inc stock to perform well in the short-term.
Current score: 2.531 Buy Candidate Unchanged
Predicted Opening Price for Chipotle Mexican Grill Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $2,915.49 ( 0.259%) | $2,907.97 |
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 | 2,958.66 | 1.74 % | |
| R2 | 2,942.17 | 1.18 % | ||
| R1 | 2,931.98 | 0.83 % | ||
| Current price: | 2,907.97 | |||
| Support | S1 | 2,899.00 | -0.308 % | |
| S2 | 2,888.81 | -0.659 % | ||
| S3 | 2,872.32 | -1.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,990.69 | 2.84 % | |
| R2 | 2,965.69 | 1.98 % | ||
| R1 | 2,955.53 | 1.64 % | ||
| Current price | 2,907.97 | |||
| Support | S1 | 2,895.00 | -0.446% | |
| S2 | 2,666.99 | -8.29% | ||
| S3 | 2,470.85 | -15.03% |
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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