Most amateur investors and traders, even some pro investors and traders are missing out on the hugely bullish price action in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG). There is a major pivot line established back in June 2016. The stock hammered on $385 multiple times showcasing how big of a level it was. Finally, in October Chipotle Mexican Grill broke below this pivot at $385. Every big time investor and trader said the stock was cooked, but it rose from the ashes and within days was back above $385. Again, in December the stock took a beating on bad news, breaking below $385. Tons of analysts and big name investors pronounced the stock dead, headed sharply lower. Yet again, within days it was back above $385. This is my thesis here. The stock has twice broke the major support at $385 and within days recaptured it. This is insanely bullish price action. The bearish investors are getting their heart broken time and time again. This stock is headed higher and is my top pick for the first quarter of 2017. In January, I expect it to be above $440 and by March, possibly above $500. I am a buyer into year end.
View my verified trades here: verifiedinvesting.com/JennyRebekka
View my verified trades here: verifiedinvesting.com/JennyRebekka