Betting Against Burritos: Is CMG Set to Dip?
Trade:
Entry: Short layered in between 56- 57, w/ stop loss at 61
Profit level 1: 47
Profit level 2 (Moonshot): 40
Levels of interest:
Short Reasons:
Entry: Short layered in between 56- 57, w/ stop loss at 61
Profit level 1: 47
Profit level 2 (Moonshot): 40
Levels of interest:
- Yearly open at 45
- Gaps at 46-48. (IMO high %)
- -Wouldn’t be surprised if it went to 43-36
Short Reasons:
- Weakess against indices
- Weekly char shows a RSI Bear divergance
- Signifciantly above average sell volume on the weekly.
- Just broke below the 30 week MA.
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