div > div.group > p:first-child"> Shares of the fast-casual chain are on pace for their best quarter ever, up about 60 percent year to date and some 80 percent from the December lows.Given the surge, market watchers tell CNBC it's not yet time for investors to take advantage of Chipotle's red-hot rally.
"It's a little pricey at this point," she told CNBC's "Trading Nation.""Its valuations are very extended, and ... if they don't beat these really high expectations, if they don't hit every single number, I'm worried about the negative part and [expectations] coming down. And we already know from last year [that] health concerns, data breach, anything can send this stock plummeting. So I'd like to see an entry point closer to about $615.
Cappelleri noted that if Chipotle's stock can break out of its current inverse head-and-shoulders pattern, it could rally into the $700s. But with the current reading on its relative strength index, which tracks buying and selling pressure, he said he'd also advise investors to wait for a better entry point.
TradingNation Here’s your sell signal.
TradingNation Try
Sell before the next food poisoning scare?
TradingNation
TradingNation It’s a triple burrito dip fo sho.
TradingNation This looks interesting
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