Watch For These Key Levels as Chipotle Stock Drops Ahead of 50-for-1 Split
Chipotle Mexican Grill(CMG) Investopedia·2024-06-21 11:10
Key TakeawaysChipotle shares dropped more than 6% on Thursday, just days before a 50-for-1 stock split in the fast casual restaurant chain's shares.Institutional investors may be booking profits ahead of next Wednesday's split, given the stock has gained more than 40% since the start of the year and has more than doubled since the start of 2023.A potential bull trap pattern and bearish divergence indicates weakening momentum in the burrito maker's share price.Chipotle shares may find support near key Fibona ...