Tradewizardz
Long

MCD re-test long term support/ 50% fibonacci bullish trade

BATS:MCD   MCDONALDS CORP
138 3 0
Nice trade here MCD             has been bullish of late and has broken through long term support going back to January and has now re-tested that support, which is also a 50% Fibonacci level cluster. With earnings coming on the 23rd of January I would expect bullish momentum into earning. I am looking to do a weekly bull put spread on this trade as earning is around the corner
Looks like that even though the stock dipped on Monday 6th the support has held up Tuesday as I predicted more upside to come
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Well could not of predicted that WFC would downgrade MCD from outperform to market perform that is the reason for the stock tacking ah well............Stupid analysts
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Oh Great MS just upgraded MCD to Overweight THIS IS A CASINO no real consensus by analysts
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