Stock Chart And Institutions Say Chipotle Mexican Grill Is A Screaming Buy
Chipotle Mexican Grill, Inc. (NYSE:CMG) just tagged a major technical support level that dicates it is a screaming buy to investors. You can see this trend line in the stock chart below. Chipotle has also put in a huge base over the five months, signaling a low risk trade to the buy side. Lastly, hedge fund king Bill Ackman loaded the boat just weeks ago at a higher price. This gives average investors not only a technical signal to buy but also a fundamental reason. Following one of the best hedge fund managers is fantastic, but getting in much lower is a bonus. I am a buyer in this lower range tomorrow.