(Investopedia.com) For a fifth consecutive quarter, revenue has declined at Chipotle Mexican Grill, Inc. (CMG), which has suffered massive profit losses thanks to its food-borne illness crisis from a year ago.Combined with the Denver-based burrito chain suffering a 22% decline in third-quarter same-store sales, this not only suggests that the company still has a long way to go to win back the trust of customers, there's now questions about the effectiveness of the company's free-burrito give-way promotion and its rewards program. It would seem, Chipotle three good money after bad -- receiving nothing in return.To win back customers, Chipotle has shelled out millions of free burritos, while launching a three-month loyalty program in June. In September, the company heightened in promotions, allowing kids could to eat free on Sundays, while students were allowed the option to get a free soda or iced tea with their meals. These expenses bit Chipotle during the quarter.For the quarter that ended in September, Chipotle reported third-quarter profit of $7.8 million, or 27 cents per share. On an adjusted basis, when taking out one-time gains and costs, earnings came to 79 cents per share, which widely missed Street expectations of $1.58 per share. The company's earnings were dragged down from promotional activity, which impacted comparable transactions by 15%.Beyond the 22% decline in established restaurants, third quarter revenue declined 15% year over year and missed consensus forecast by about $50 million. From an operational perspective, restaurant operating margin was halved to 14.1% from 28.3% a year ago. Combined with a 210 basis-point rise in food costs (as a percentage of sales), reaching 35.1% and an 180 basis-point rise in G&A expenses (due to the lower level of sales), Chipotle had no chance of beating Wall Street's estimates.Looking ahead, Chipotle says its expects comparable restaurant sales to fall in the low single-digits in the fourth quarter. The company expects to open 220 to 235 restaurants this year.Read more: Chipotle Stock Falls on Q3 Earnings, Rev Miss (CMG) | Investopedia http://www.investopedia.com/news/chipotle-stock-falls-q3-earnings-rev-miss-cmg/#ixzz4OBY7kOHh Follow us: Investopedia on FacebookCMG Daily Chart 10/26(click to enlarge)Flattened but still bearish- We all remember last year's CMG disaster with the food-born illness. - That dip has flattened in 2016, but we can still see the bearish bias in price action as price remained under the 200-day simple moving average (SMA). - The daily chart shows a sideways range form between roughly 385.50 and 444.15. - Last week price found buyers just above the range support and price rallied back above 400. - This week however, price held below the middle of the range, putting pressure on the 385.50 support area. Anticipating break down of range:- After the latest disappointing earnings report, CMG will likely see another challenge of that 385.50 range support area. - This time it will be vulnerable. - However, if price is able to climb back above 420 after this disappointing report, then we should start considering the resilience in CMG. - Still, outside of the very short-term, only a break above 445 should open up any bullish outlook.