Currently MCD is in a downward trend and is currently just above a gap area. The 50 SMA is about to cross below the 200 SMA and that is a bearish signal, along with the fact that recently the stock has been printing lower highs and lower lows. I am looking to short all the way down to $168 where there is a support line. This support line is above another gap and if the support line breaks, MCD will drop to at least $161 if not lower.
I look forward to hearing your comments about the topic and am constantly looking for feedback to improve my analysis. I am open to discussion about my idea.
I look forward to hearing your comments about the topic and am constantly looking for feedback to improve my analysis. I am open to discussion about my idea.