The bearish DailyPlay we chose for Tuesday June 21st is Chipotle Mexican Group (CMG). CMG is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 2.23% move higher but it’s 1m and 6m trend turned bearish on 6/10 while failing to reach a new high at its $80 resistance level.
Chipotle Mexican Group’s 1m and 6m trends turned bearish on 5/27 while breaking below its $430 support level on high volume. With a technical score of 1 (out of 10), CMG looks positioned to continue this strong bearish trend lower.
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