MDO trade ideas
McDonalds at key resistance, expecting a correction MCD is at its Elliott Waves monthly time frame target in the $132 area.
5 waves completed
RSI14 is showing bearish divergence.
MCD is testing the upper band of its rising channel.
$132 area is corresponding to the 1.5x the height of its previous channel projected on its breakout point in 2008.
Minimum target in the $101 area, then possibly $82.
MACDONALDS IS DOWN(My first language is Spanish, I apologize if I write wrong)
I have only three years of experience in trade, 90% of my trades are good, I hope will be helpful and see if what I predict happens, good trade!
$MCD With earnings tomorrow, will the trend continue?Let's take a long term look at $MCD on this chart.
Fundamentally this is obviously a strong company. In brief, net income has decreased from 2011, but we can see the price has made all time highs regardless.
The consensus estimate for earnings tomorrow (released during pre-market) is $1.16. A decline from the previous quarters earnings.
This stock has been in a strong Bull trend since 2004. If we defined trend as dipping below the 50 period moving average than this stock has stayed in trend for a longtime, really only making significant moves below the 50 period moving averages during periods of consolidation.
Price exited a 4 year period of consolidation. It has been on a bull run for the past year, with minor consolidation along the way up. A continuation of the trend would provide great opportunities for a long term trade. The best way to trade this would be a Bullish candle pattern confirmed with rising volume.
The turning point on MCD?The quotation has reached the upper boundary of the rising channel.
Reasonable to expect the beginning of reversal formation. NYSE:MCD
Break-Outs To All Time Highs: Part 1, MCDRemember the old TV Show "Superman"? It started by the announcer saying..."It's a bird. No, it's a plane. No, it's Superman". I started this narration by pointing out that sometimes XABCD patterns are not perfect, but if you examine them closely, they give you clues as to upside breakouts to all time highs. This is the chart of McDonalds. It had been going sideways for three years. After the mini-crash in August of 2015 I noticed an imperfect XABCD pattern in MCD. Just as superman was not a bird or a plane, I did not find a perfect Gartley, bat, butterfly, or crab. BUT, what is important was I recognized a very bullish pattern, XABCD, and I used a C to D impulse leg Fibonacci projection to realize that this might be a 2618 trade. The lower indicator is Vortex, and, in a sideways market, this will go red over green, and then back. Very seldom will this indicator stay positive (green over red) unless there is a new trend starting. The rest is history, as McDonalds went on to 2.618 Fibonacci and all time highs. THIS WAS A MOVE FROM $88 TO $124. Yours for better trading, Don.
MCD: Bat patternWe would take this trade only because of the bearish tendency of the overall market.
Will this gap be filled?As long as share price is below 2016 Feb high, or otherwise there is a structural change, minimum target is to refill the gap
$MCD a beast today, testing important resistance$MCD is powering through resistance at the upper bound of its bull channel from late October. A close above 120.10 is very bullish. I'm still targeting 122 with some JAN 120 calls.
MCD testing resistance at 120MCD is testing resistance at 120, which coincides with the 27% fibonacci extension as well as the upper-bound of its bull channel. We're targeting the 122 level for an exit.
