CMG Blasting off a Launching Pad 4-5-12
April 5, 2012 (AAPLTrader)
Looks like Chipotle Mexican Grill, Inc. (NYSE:CMG) is about to blast off a launching pad?
With a possible target of $440… maybe higher if this market keeps cranking.
Also, notice the bullish engulfing pattern, this is where the body of today’s candlestick completely engulfs the body of yesterday’s candle. This is a very bullish patter. In fact, it is one of the most bullish of patterns.
Four main concerns with buying CMG today:
- The three day weekend (especially if you use calls)
- The sideways action in the S&P 500.
- Is CMG becoming too overplayed like starbucks?
- CMG and the market are at extreme highs
Why CMG is a strong Buy:
- It’s out performing the broad market in a big way!
- The Acceleration Deceleration Osc is about to roll up!
- The company is growing like wild flowers, they have a store at every corner now.
- The healthy eating movement is just getting started and CMG is already positioned as an authority.
So… if I can leave you with any last words I would say that it’s better to buy on a pull back than trying to catch a break out.
