Watch These Chipotle Stock Price Levels After Post-Earnings Plunge
Key Takeaways
- Chipotle Mexican Grill shares tumbled Thursday after the fast casual chain served up a lackluster same-store sales outlook.
- After reclaiming the 50-week moving average late last month, the stock had reversed lower ahead the Burrito maker’s earnings report.
- Investors should watch major support levels on Chipotle’s chart around $43, $40 and $35, while also monitoring a key resistance level near $58.
Chipotle Mexican Grill (CMG) shares plunged Thursday after the fast casual chain served up a lackluster same-store sales outlook.
The company said it expects flat comparable store sales this year, below its prior forecast of a low single digit growth rate, signaling that inflation and recession fears are taking a bite out…
