Tickeron detected bearish Stock Pattern: Cup-and-Handle Inverse on April 23, 2024

A.I.dvisor
at Tickeron.com
04/24/24
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Cup-and-Handle Inverse
CMG - Chipotle Mexican Grill
Emerged: 04/23/24
Breakout: $2,864.91
Price: $2,915
Target price: $2,741.09
A.I.dvisor detected a bearish Cup-and-Handle Inverse pattern for CMG stock. This pattern was detected on April 23, 2024 . The odds of reaching the target price are 6. The Inverted Cup-and-Handle (sometimes called Inverted Cup-and-Holder) pattern forms when prices rise then decline to create an upside-down “U”like shape (1, 2, 3, also known as the Cup), followed by a shorter relatively straight price increase that bounces from the right lip (from 3 to 4, creating the Handle). Consider selling the security short or buying a put option at the downward breakout level. The confirmation move is the breakout of the price below the right cup lip.
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CMGDaily Signal changed days agoGain/Loss if shorted
 
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General Information

an operator of fast-casual, fresh Mexican food restaurants

Industry Restaurants

Profile
Fundamentals
Details
Industry
Restaurants
Address
610 Newport Center Drive
Phone
+1 949 524-4000
Employees
116068
Web
https://www.chipotle.com