MCDL trade ideas
MCD - McDonaldsMCD has sold off quite a bit here in the last few months and is hovering above this longer term support level. I decided to go with a asymmetrical set up using a call spread for this play.
+1 Dec21 155/170 call spread for $5.38 db.
Risk: Try to let price action stop me out at the project stop or manage near a 50% loser to keep the risk small.
Profit: Target hit (initially)
MCD: Beaten down almost. What goes down must come back up.RSI: at near oversold
Way below Ichi Cloud (getting thin above) if this turns around. Will be very hard bounce. Possibly at the end of h&s phase.
How could this American icon be down for this long? I will patiently wait for this to ride above the dark clouds. Holding long calls.
MCD -- Burger time didn't pan out!I previously thought that we would have a quick squeeze to the 170 levels in MCD. However, the market has proven me wrong, and I have chosen to listen.
Given that it didn't follow the imminent bullish setup which was there to take, MCD has presented itself as "not ready for primetime". So I think we are still in the correction and I think we visit the green box sometime in the Sep-Oct timeframe. I will be going long there.
MCD Going into ERMCD is down ~10% from it's highs, forming a cup & handle going back to 06/27. Today's news regarding food borne illness in the salads around the midwest has pushed the SP down to $159.12 in to day's after hours market. I believe the price will start to recover next week headed into earnings due to higher margins resulting from the ongoing automation of their restaurants. The price range from the bottom of the cup to the top is about $5 which would bring us to the $165 target pre-earnings. More upside possible depending on ER.
MCD Long Near $155Long setup on MCD. This pattern worked very well for more than 3 times in the past two weeks as I was buying off the $159 level and selling at $162 plus. Now the price action is testing the $155 level. Goal is to buy under $155.50 with a stop loss at $154.90. Price target $158.50 or $161.50 if it breaks out of the selling trend.
MCDonald's looks strong nowOnce again above the SMA 200 and indicators looking good. After the pullback in February it's now back on track.
Paying dividends and going full steam ahead, nice peaks in volume on strong days.
RSI has a nice climbing support line, leading me to believe the stock will go to the roof of its trend channel and maybe even break above it. Should RSI go above 80, we may be in for a fun ride.