Chipotle is still setting up, along with Under Armour, as a viable long idea if the bulls keep on being resilient. On the first daily chart, note the tightening lateral base.
And MasterCard is a short idea vulnerable to breaking down yet again for a fresh corrective leg lower.
I went short Facebook inside 12631 yesterday before the bell (timestamped in there), and and looking to see if $66 breaks to the downside.
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Given how they are burning… i mean spending… their… i mean shareholder…. money, FB certainly deserves to trade lower.
It was/is stretched, too.
I saw an employee of CMG rigorously defend the “high prices” they charge via cues like supporting local farmers and quality ingredients. I applauded their corporate culture and training inside my head. That type of habit loop formation in employees is what made SBUX a beast. This adds no value to taking a trade in CMG, but I have been wanting to share this observation since it occurred.
Very interesting on the ingredients, thanks.