The stock price of Chipotle (CMG) has been stabilizing in the second half of 2016, and possibly even bottomed by the end of the year. Last time we looked at CMG, we asked: Chipotle Plunges After Earnings; Should we Pick it Up? We discussed the bullish scenario and a trade idea with entry at 390. Well, price pivoted closer to 400 and started to rally.Chipotle (CMG) Daily Chart 2/21(click to enlarge)Key Resistance:- As CMG continues to a shift from bearish momentum to at least non-bearish momentum, price is again approaching a key resistance area.- We should anticipate resistance from 434.60 up to 443.30. - As long as price holds above 400, we should see they bullish attempt challenge this resistance.- A break above 444 would indicate that a bullish reversal has been developing.- In this bullish breakout scenario, we can look for 500 as the next key level of resistance, although this rally might be choppy because of the prevailing downtrend that CMG just went through in 2016.