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PPR- Chipotle Mexican Grill (CMG) Pocket Pivot Buy Point on Friday

We get a lot of emails from individuals asking about pocket pivots, but so far no emails asking about Chipotle Mexican Grill (CMG), which flashed a pocket pivot buy point on Friday. Note from the daily chart of CMG, below, there were two prior pocket pivot buy points in the pattern before the standard new-high base breakout buy point on September 1st. This recent pocket pivot is an add point for existing CMG positions, although can be tradeable for more aggressive individuals who want to take an initial position here with the idea of catching a fast move. CMG does not tend to obey its 10-day moving average, hence that is not a selling guide for any CMG stock bought further below at previous buy points. However, aggressive traders taking a position here should consider using the 10-day moving average as a guide for handling any stock taken up at these higher prices. We thank our friends at HighGrowthStock Investor (www.highgrowthstock.com) for their gracious permission in allowing us to use their excellent charting and fundamental data tools.

We don't have a position in CMG, but we should. ;-)



This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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