Reported 8 months ago
Chipotle shares dropped over 6% before a 50-for-1 stock split, with institutional investors possibly taking profits as the stock has surged more than 40% this year and doubled since the start of 2023. Technical analysis points to potential bearish signs like a bull trap pattern and weakening momentum, suggesting key Fibonacci retracement levels at $3,066, $2,821, and $2,622 as potential support areas to watch.
Source: YAHOO