TheHitman
Long

Will McDonalds continiue it's uptrend

NYSE:MCD   MCDONALD'S CORPORATION
Hi Traders

On the weekly timeframe The Hitman Indicator showed a Buy Print last week. Let's check what could happen the next few weeks with this stock.

As you can see on the chart, the stock seems to jump off the area around EMA55 (the pink line) in its upward swings. The Hitman supports this with a buy-signal. So where could we expect it to go? To try to answer this question, I drew a Trend Based Fib Extension. I usually target the 1.272 line (Price: 229.80) with the Fib Extension. This would be roughly a 12% gain. I would also consider to take some profits out at the 1-line (Price: 218.77), just because we are in All-time high regions.

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Comments

does this mean not until feb will it move up? seems really far.
Reply
TheHitman RobFlorio
@RobFlorio, no it means it is in a uptrend/Swing that could continue for the next couple of weeks.
+1 Reply
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