Chipotle $CMG has recovered nicely in 2018. It has made such a strong rally that price has been trading above the 200-day simple moving average. However, I think CMG will be heading back to it, around d$400. Chipotle Daily Chart(click to enlarge)Broken Trendline and Bearish Momentum:- The daily chart shows that after price peaked at $530, CMG has been sliding. So far, price has broken below the rising trendline from February. - Meanwhile, the RSI has fallen below 30, which suggests revival of bearish momentum or at least the market shifting from a bullish to a sideways mode. - I think with the currently bearish momentum in the short-term, we should anticipate further downside risk towards the $400 handle, where the 200-day simple moving average (SMA) is residing at the moment. - Resistance in the $470-$480 area would help improve the likelihood of this scenario.