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Second for the week! Let’s review a few more names:
Chipotle Mexican Grill, Inc. (NYSE: CMG)
CMG found support at the half-yearly 30.50 level late last year.
In recent sessions, it broke out of its short-term resistance trendline. It needs to hold the 38-39 monthly level for continuation into the 43 quarterly imbalance and subsequently the major resistance trendline, else it could trend back into the major support at the 34-35 area.
With its planned expansion into Asia this year, CMG could unlock new synergies and revenue streams. Perhaps, the chart is front-running this fundamental thesis.
Wingstop Inc. (NASDAQ: WING)
WING is currently consolidating in a descending triangle pattern, with lower highs and equal lows around 224 half-yearly support.
It’s currently trading below strong horizontal resistance at 281 - this level is key for continuation back into the 291 Fib level and subsequently the red resistance trendline.
Should WING breakdown below 223.77, it increases the likelihood of a deeper retracement into the 200.65 imbalance.
Enphase Energy, Inc. (NASDAQ: ENPH)
ENPH is consolidating in a descending channel with lower highs and lows. In the short-term, it continues to struggle at the 35.42 yearly imbalance.
Provided 35.42 is reclaimed, ENPH can head back into the half-yearly resistances at 44-47 + channel resistance next. Otherwise, ENPH could crack back down into the 21.49 yearly imbalance next.
Very dicey until a channel breakout or when major timeframe support is retested to the downside.
@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger
$Chipotle Mexican Grill(CMG)$ $Wingstop(WING)$ $Enphase Energy(ENPH)$ $Advanced Micro Devices(AMD)$ $Oklo Inc.(OKLO)$
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