Bearish DailyPlay for Tuesday March 29th, 2016 – Chipotle Mexican Grill (CMG)
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.