Chipotle Mexican Grill (NYSE:CMG) has been steadily declining since August 2015. Back then, the stock traded as high as $758.61 a share. Today, CMG's share price is $306.54. That's quite a plunge in the past two years.
Now the stock is nearing a major whole round number at $300 a share. When a stock nears such a number, it often finds support and bounces sharply. This level looks extremely attractive for a long-side trade in Chipotle.