Time for a main entree at Chipotle Mexican Grill? Maybe not. Sure, Cramer spent a good 2 or 3 minutes pontificating about the need to sell CMG now, but that's based on ... what? He wants profit-taking to ensue, more than anything. Sure enough, the stock has dropped 10% since Cramer's sermon, and the stock is well below its 10-day SMA (126). In fact, at one point on Friday, CMG traded below 115. After going up in a straight line since early September, the stop losses and profit-taking are expected.
Pupule says: Buy. This A- stock needs to take a pit stop, breathe and consolidate. Though it's below its 10-day SMA, the gap is huge. Support is at 110 if you can wait for more retreating.
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