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JimVanMeerten (57.35)

Chipotle may run out of steam



June 06, 2011 – Comments (0) | RELATED TICKERS: CMG

A very wildly popular stock that may be overpriced is Chipotle Mexican Grill (CMG).  On Barchart the stock has been appreciating but lately has taken a breather, possibly signaling that it's overpriced. The company has started to go off in a new direction and is opening locations under the name ShopHouse Asian Kitchen.  The same concept they have now, move along a line and pick all your own ingredients but under an Asian theme.

Barchart technical indicators:

1 - 64% Barchart technical sell signal

2 - Trend Spotter buy signal

3 - Above its 20, 50 and 100 day moving averages

4 - 11 new highs and up 6.60% in the last month

5 - Relative Strength Index is 57.89%

6 - Trades around 286.45 with a 50 day moving average of 275.30

Jim Van Meerten is a Marketocracy Master

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