Chipotle reports earnings after the close, 2/2 2017

I’ve been a Chipotle bull calling for a comeback for quite some time now.

See my original video on CMG talking about buying it around $400

chipotle stock CMG chart 2017

2017 chipotle stock pre earnings

I talk about the pattern and the possibility of the counter trend rally occurring in depth.

The stock has run up slightly into earnings from $353 on the lows to $425 currently

The stock is pricing in around $20 move in the options market post earnings.

Short interest is high around 20%

Analysts at Maxim downgraded the stock citing “avocado problems”

If you having avocado problems I feel bad for you son’

CMG daily has breached the all important 200 period Simple Moving Average and is holding the 10 EMA heading into earnings

cmg chart 2017

CMG Daily

I feel the downside is too much, it was oversold and I’m looking for a “squeeze em’ Sally Rally”

*Disclosure: I Own calls and Common stock in CMG

Wish me Luck 😀

Chipotle Bulls Waiting for Turn

Will I die before Chipotle snaps back?