Holding Up Like a Legend

The turnaround job that CEO Brian Niccol has done at Chipotle is nothing short of spectacular, as the stock came within a few measly bucks of surpassing its prior, late-2015 all-time highs earlier this week.

Back then, CMG soon faltered and dove from $758 down to $247 by the time Niccol took over in the winter of 2018. That horrifying slide surely shook and scared out plenty of CMG bulls. But without Niccol's experience and business acumen there is no telling if the stock would have slid into oblivion. 

Fast-forward to today, and we would have to say that CMG is acting like a bonafide leader in the fast-casual dining space alongside DNKN MCD SHAK WEN WING. In addition, names like DIN and DRI look poised to come into their own again. 

On the updated CMG daily chart, below, we can see a smooth base over base pattern with another push over $750 triggering a potential fresh breakout.