Betting Against Burritos: Is CMG Set to Dip?

17 Tem

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:

• 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.