MCDL trade ideas
MCD might be looking for a 3th waveI chose to go with a 1-2-1-2 as I believe it's the pattern that suits it more, either of the 1 waves look impulse whereas 2 look choppy and sideways (Flats). MACD broke both trendlines giving us a strong bullish signal and on RSI seems that might try to break it's trendline. The late move upwards seems to have an internal 5 waves and the correction already made 3 moves to the downside followed by a really strong move to the upside again, we could assume that correction is over and we are going up again, breaking the previous high would be a confirmation.
MCD might be looking for a 3th waveI chose to go with a 1-2-1-2 as I believe it's the pattern that suits it more, either of the 1 waves look impulse whereas 2 look choppy and sideways (Flats). MACD broke both trendlines giving us a strong bullish signal and on RSI seems that might try to break it's trendline. The late move upwards seems to have an internal 5 waves and the correction already made 3 moves to the downside followed by a really strong move to the upside again, we could assume that correction is over and we are going up again, breaking the previous high would be a confirmation.
McDonald’s Sneaks Toward a BreakoutMcDonald’s has been inert for most of 2021, but now it's showing signs of a breakout.
First, MCD established a new closing high on Friday. Aside from Salesforce.com , it was the only member of the Dow Jones Industrial Average to achieve that feat.
It also happened despite making a lower low on Monday. Buyers quickly materialized to defend the burger giant, resulting in a bullish outside week:
Third, MCD has been coiling for a potential breakout since July and holding support above its 50-day simple moving average (SMA).
Next, this year’s price action has mostly represented a consolidation above the October 2020 high. Old resistance could now be established as new support.
Finally, MACD has turned positive in the last two weeks.
The bigger picture could also be helpful because reopening stocks jumped last week as coronavirus infections declined. There was an additional catalyst in the casual-dining space after Darden Restaurant (parent of Olive Garden) hiked its guidance.
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MCD longEntry price: 240-243$
Target price: 254-255$
Chart pattern: symmetrical triangle
RSI: neutral, oscillating near to 50 level
Conclusions: The price already broke up the upper line of the chart pattern, moreover RSI shows further bullish potential. Therefore, the long position is recommended with the entry price above the breakout.
Above information should be treated as informational/educational advice, no professional financial advice.
MCD Lotto MCD - Good volume the last few days here. Could tests above to see what was up there but held. Nice coin flip trade here. If it can break Friday’s high of $239.70, it looks like $245 is the next stop, but not with a backtest first, highlighted in yellow. Secondary scenario is a fake out breakout, and complete destruction to the downside. Pick your poison wisely. Treat it as a lotto.
McDonalds Ponzied - Rising Rates Environment - Volume MIAAlways up. Buys only. Bla Bla. The MCD in our town just upgraded to a double lane drive thru. Is that a clue? Large caps gobbled up all the smalls. I liked our mom n pops too. Shame. MCD ate them all. So sad. Time to pay their fair share! Corporate tax rates will get the hike they deserve.
*Revenues from abroad. Shipped from abroad. Expenses abroad. wow. Milkshakes on backorder from where??? Shame.
Large cap Stonks. Hold for broke in a rising rate environment.
Go small Caps!! #MSOgang