3 LT Trends... Keep buying $1500-1700
Could we go to the moon from here? Absolutely.
However, on the monthly chart we are bouncing off of what has historically been a long-term resistance level, ORANGE (with few exceptions--any trip above is short-lived).
I'm not sure we're heading back to YELLOW unless something extreme happens, but this PURPLE line is looking great as the 'near-term' support level for us to re-test eventually (in 2024 or 2025).
So, keep an eye out. CMG may go sideways for a while, and money can be made, but if we break $1700, it may finally be time to start nibbling away at this all-star burrito.
Disclaimer: I'm a regular at Chipotle and eat a burrito at least once per week.
However, on the monthly chart we are bouncing off of what has historically been a long-term resistance level, ORANGE (with few exceptions--any trip above is short-lived).
I'm not sure we're heading back to YELLOW unless something extreme happens, but this PURPLE line is looking great as the 'near-term' support level for us to re-test eventually (in 2024 or 2025).
So, keep an eye out. CMG may go sideways for a while, and money can be made, but if we break $1700, it may finally be time to start nibbling away at this all-star burrito.
Disclaimer: I'm a regular at Chipotle and eat a burrito at least once per week.