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6 Stocks to Sell in November

These underperformers pose higher-than-average risk and have seen heavy insider selling

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Stock to Sell #3 – Chipotle Mexican Grill (CMG)

Chipotle Mexican Grill (NYSE:CMG) operates more than 1,300 casual Mexican restaurants in the United States and Canada. Same-store sales growth is projected to be 2% in 2013 compared with 6.5% in 2012.

Technically, the stock is in a bear market with immediate resistance at its 20-day moving average (green line) at $265. In October, CMG broke through a quadruple-bottom at $280 on a huge gap with high volume.

It has since bounced to a minor resistance line at $263, but momentum is failing and it is unlikely to successfully challenge the resistance at $280. Sell CMG at the market.

CMG Chart

Trade of the Day Chart Key

Article printed from InvestorPlace Media, http://investorplace.com/2012/11/stocks-to-sell-bby-ce-cmg-grmn-isil-utx/.

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