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
Oh Great MS just upgraded MCD to Overweight THIS IS A CASINO no real consensus by analysts
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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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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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