Chipotle has recently formed a classic double top (bearish reversal formation) on the chart, which has since been confirmed.
After the break of support, I expect a more significant setback; I consider a correction to the $39.00 to $35.50 range to be realistic.
Technically, this would correspond to the typical price target of a double top, which results from the height of the formation.
In my view, the risks therefore predominate in the short term, but the share remains very interesting in the medium to long term due to its strong fundamentals.
