CMG Nested Wedgies

31 août 2019

I keep telling people not to short this PoS bubble stock along with any of the restaurant bubble stocks because there's no indication of when it will finally break. Typically it's on earnings, right? Restaurant stocks barely dip even when the market is selling off, look at McD.

Some other poster suggested a wedgie, another suggested earnings. Looks like CMG has a pair of nested wedgies (a double wedgie!), so it might dip a little here, but don't expect it to tank until earnings.

Note: Stocks can actually break upwards out of a wedgie, TXN and oil did, if you look up some of my old posts. In any case, the formation lines up with earnings, expect a big movement up or down.

I'm not touching this stock, just like I wouldn't touch their food. Chitpotle gives me the chits, (Serious.)

Also, slow STO chart (not shown) has the funniest pattern I've seen.

10 sept. 2019

Note

Appears to have broken both support lines. Best time to short a stock is when it can't hold gains from an upgrade...

20 sept. 2019

Note

Restaurant stocks melting up again even as the market goes down.

The only time it's worth shorting this stock ironically is when it gets upgraded, lol.