We are sort of in the middle of downtrend. I like to wait for clear trend reversal.
Should be around January/February IMO unless Death Cross flips and price goes above moving averages.
There is also a bear flag formation under the death cross.
What I see as most important - the biggest selloff happened when price crossed under 50DayMA , not the death cross.
The price reached the support zone between 192.00 and 190.00 levels. In spite of a breakout below SMA200, which gave us a trend reversal signal, the market can continue the previous uptrend. I refer to a similar structure, which the market passed in 2016 and 2018 years.
It is possible to think about buying based on the confirmed reversal signal from the support...
Monfex is at your service and today we overview MCDONALDS Corporation.
Mcdonalds fired their CEO, with which the company's capitalization doubled.
The first downward movement was in early September, at the same time as the "The Game Changers" popular film about vegetarianism was released. Perhaps this is connected, but not exactly.
This year, the...
This is another company we've been watching closely since its IPO. (similar to Uber) Both companies surged on hype and hopium.
$BYND is down -70% from its all time high in late July. Many competitors and rivals are gaining momentum in this market. There's a lot of speculation waiting to see what is going to happen with a BYDN & McDonalds partnership.
Neutral for now.
I know shorting this is not wise, however MCD public sentiment has been steadily declining despite its still incredible popularity, MCD has been in a HUGE bull run, however in my opinion we will see the rise of healthier alternatives and more traditional fast food chains, (Subway, Pizza restaurants)
As always using support and resistance levels, I also checked some fundamentals as well as hedge funds and institutional investors' expectations and also because McDonald's is well-known trademark I don't expect it to drop below 170-175, look at horizontal the support line I drew.
So I entered long position and might enter again even if price drops as I believe in...