The slide from almost 760 to 385 basically took away 50% of Chipotle's market capital. Is it time to re-invest in this growing fast casual restaurant? Let's take a look at the technical perspective:Chipotle Weekly Chart 8/25(click to enlarge)Still bearish, but...- When we look at the weekly chart, we can say that price is still bearish as it trades under the 200-, 100-, and 50-week simple moving averages (SMAs).- However, we are starting to see signs of a price bottom. - The fact that price held above 385 in August suggests that we could be seeing a price bottom here.- There is also a bullish divergence building between price and the RSI. - If this 385 support fails, then I would anticipate further bearish correction towards 350. Limited upside:- If we anticipate a bullish outlook, it should be tempered because after all, the prevailing trend was bearish.- If price does return to 440, we would have a double bottom scenario, but only if price can break above 440.- A rally to 440 would still be within the context of an overall bearish market. - So for now, let's say CMG has a potential upside of about 10%, with the potential of finally bottoming in the medium-term.- Let's not call it a bullish reversal until price at least breaks above 440.