Mimo2

$CMG: Busted Burrito

Short
NYSE:CMG   Chipotle Mexican Grill, Inc.
1
$CMG broke below a long term trend line back in April and it has returned back to the trend which now acts resistance. A bearish head and shoulders pattern could also be forming. $CMG reports after the close today. Same stores growth has been decelerating and food prices were higher during the quarter. I see $CMG falling after earnings to the nearest support line at $600.

Disclosure: Long put spread.

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