MCD (McDonalds) sold at 95 for a 9% drop. Looking to sell again
In the linked post we sold MCD between 95 to 98 and were looking for a decline to 83 at the weekly trendline.
MCD fell to 87.6 and then recovered.
Now I believe it presents another selling opportunity. The move between 97 to 87 looks impulsive and the move up looks like the first leg of a three wave correction.
Between 93.5 to 97.4 presents a good selling range imo with stop strictly above 97.46. If the move is indeed impulsive, the issue has no business above 97.46
MCD fell to 87.6 and then recovered.
Now I believe it presents another selling opportunity. The move between 97 to 87 looks impulsive and the move up looks like the first leg of a three wave correction.
Between 93.5 to 97.4 presents a good selling range imo with stop strictly above 97.46. If the move is indeed impulsive, the issue has no business above 97.46
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