The bearish DailyPlay we chose for Tuesday March 29th is Chipotle Mexican Grill (CMG). CMG is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 4.42% higher and its 1m and 6m trend turned bullish on 3/1 but recently failed to sustain its new high above $78.
Chipotle Mexican Grill’s 1m and 6m trends turned bearish on 3/17 while breaking below its $485 support level on high volume. With a technical score of 1 (out of 10), CMG looks positioned to continue this strong bearish trend lower.
Share this on