$MCD to 236 by end of quarter or all time highs
$MCD - it took out the quarterly top, is now below 50% on the quarterly, and will likely make an outside bar candle (3) to take it to 236 by the end of the quarter. SHEEESSHHHH. This could also go the other way and look to make new highs again.
Quarterly (White Fib & Red 50%): Currently a 2-2 with the high taken out, possible 3 down candle this quarterly as price has now passed 50% at 252.93.
Monthly (Blue Fib): 2-1D Monthly 50% trigger
Weekly (Yellow Fib): 2-2D Weekly Bearish Continuation if it breaks 250 to the downside. Also has the potential for a Bullish Randy Jackson if price breaks above 256.92 which also happens to be the weekly rejection to the downside.
Daily (Grey): 2-1D Bearish Continuation or 2-1U Daily Reversal.
Volume Sentiment: The downtrending candles show more volume of sellers when compared to buyers on the uptrend. I would expect this trend to continue if we are expecting to see 236 by the end of the quarter. Should this ticker decide to get bullish, I will be watching for price to move to the upside increased volume of buyers for confirmation.
Bullish Targets: Look for a break above 252.29 on the daily with volume and take it up to 254.6. Should things continue with volume and if the area turns into support then you can take it up to 262 for the Bullish Randy Jackson for the week.
Bearish Targets: Look for a break below 250 on the daily with volume. Take it to 245.25 and 243.95. If we retest 250 and aren't able to break above that then you can continue to take it down to 236.16 for the rest of the quarter.
Overall I look for MCD to keep it hot with many options from the dollar menu bearish continuation to the big mac daddy bullish Randy Jackson (with volume) should things reverse from here.
Quarterly (White Fib & Red 50%): Currently a 2-2 with the high taken out, possible 3 down candle this quarterly as price has now passed 50% at 252.93.
Monthly (Blue Fib): 2-1D Monthly 50% trigger
Weekly (Yellow Fib): 2-2D Weekly Bearish Continuation if it breaks 250 to the downside. Also has the potential for a Bullish Randy Jackson if price breaks above 256.92 which also happens to be the weekly rejection to the downside.
Daily (Grey): 2-1D Bearish Continuation or 2-1U Daily Reversal.
Volume Sentiment: The downtrending candles show more volume of sellers when compared to buyers on the uptrend. I would expect this trend to continue if we are expecting to see 236 by the end of the quarter. Should this ticker decide to get bullish, I will be watching for price to move to the upside increased volume of buyers for confirmation.
Bullish Targets: Look for a break above 252.29 on the daily with volume and take it up to 254.6. Should things continue with volume and if the area turns into support then you can take it up to 262 for the Bullish Randy Jackson for the week.
Bearish Targets: Look for a break below 250 on the daily with volume. Take it to 245.25 and 243.95. If we retest 250 and aren't able to break above that then you can continue to take it down to 236.16 for the rest of the quarter.
Overall I look for MCD to keep it hot with many options from the dollar menu bearish continuation to the big mac daddy bullish Randy Jackson (with volume) should things reverse from here.
Trade closed: target reached:
This trade played out and hit all my Profit Targets in one week!