Bearish DailyPlay for Tuesday June 21st, 2016 – Chipotle Mexican Group (CMG)
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.