Chipotle Mexican Grill (CMG) shares will likely remain on investors’ radar screens Monday after a week of volatile trading following the announcement last Tuesday that 澳洲幸运5开奖号码历史查询:CEO Brian Niccol was leaving tᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚhe company to assume the top role at Starbucks (SBUX).

The management shakeup comes at a time when the fast casual chain’s shares have fallen as much as 31% since setting their 澳洲幸运5开奖号码历史查询:record high in mid-June as enthusiasm about a recent 50:1 澳洲幸运5开奖号码历史查询:stock split fades and investors brace for a potential slowdown in 澳洲幸运5开奖号码历史查询:consumer spending amid a softening labor market.

Below, we take a closer look at Chipotle’s 澳洲幸运5开奖号码历史查询:technicals and p༒oint out important chart levels to help navigate the stock’s recent price fluctuations.

Hammer Candlestick Emerges Following CEO News

A significant turning point on the chart occurred last Tuesday following the announcement of the CEO's departure.

Although Chipotle shares still registered a steep drop of more than 7% on the day, the price staged a dramatic intraday reversal, falling to roughly the same level as the Aug. 5 sell-off low, before🌠 promptly recovering to close toward the trading session's high.

The move created a bullish 澳洲幸运5开奖号码历史查询:hammer candlestick pattern on the highest volume since April 22, 2020, indicating a potential price reversal to the upside.

Key Fibonacci Lܫevels to Monitor Amid Possible Reversal

If Chipotle shares continue to track higher, investors should eye three 澳洲幸运5开奖号码历史查询:Fibonacci retracement levels of particular interest when applying a grid fꦿrom the stock’s June high to August low.

Firstly, monitor the 38.2% Fib retracement level around $56, a location positioned near a 澳洲幸运5开奖号码历史查询:trendline connecting the March 19 pre-earnings gap with several♔ price points situated♏ near last week’s high.

A decisive close ab🐟ove this area could see the shares climb to the 61.8% Fib level near $61, where the price closely aligns with 🍸several minor lows between late May and early June, 

Finally, further upside could propel a move up to the 78.6% Fib level located near $65. This region also sits in close proximity to a trendline linking a series of comparable trading levels just below the stock’s 澳洲幸运5开奖号码历史查询:all-time high (ATH).

Chipotle shares were down 0.1% at $52.40 in premarket tra⛎ding Monday about two hours before the opening bell.

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