I Can Beat My Burrito at Chess; Chess Moves

I went short CMG at $660.16 with a cover-stop over $680. This position equates to roughly 4% of my portfolio capital. 

On the weekly chart, below, CMG looks to be struggling in the midpoint of its long-running rising channel (light blue line). On shorter-term timeframes, the stock has been a base breakdown candidate for a while, which I have discussed in recent videos. 

If I am correct in my thesis, the presumption is that CMG will break the rising channel and head on down to $550. 

However, a logical first stop is $650 early next week for the support of the channel and the 200-day moving average.