Chipotle Mexican Grill, CMG:
1. During the week of Mar. 30 we noted that Chipotle Mexican Grill was likely to close the week above $638, and in doing so would indicate an advance to $670/$72 (or higher).
2. The week of Mar. 30 closed above $638 (weekly close, $652.39) giving the green light for substantially higher prices.
3. Chipotle advanced sharply and completed the $670/$72 upside target (and higher) making a swing high today (Mon., April 13) of $687.74. Although there was no official long entry subsequent to the forecast, the completion of the forecast further confirms the value of tracking Chipotle Mexican Grill.
David Williams