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...
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...
As per the Chart
NS= No supply
DW= Demand Wave
RFSB= Resistance from Supply Bar
SFDB support from Demand Bar
SLK= Stop Loss killer
SLKB= Stop Loss Killer Bottom
DB= Demand Bar
SB= Supply Bar
EVRB= effort vs Result Bottom
My Mentors and Inspiration
Volume Analysis - Oleg Alexandrov
Money and risk Management - Dmitriy Lavrov
Looks like a sell off in wave a is finished. Looking at potential H&S pattern formation as divergence is starting to emerge. This was can capture a long of wave b, before shorting again into c.
Best to wait for the pattern to make a right shoulder at least for more confirmation.
Wedges are repeatable trading chart patterns.
Wedges are a form of Triangle chart pattern and will have a specific directional breakout bias.
A descending wedge has a bullish long breakout bias.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for...
After running up due to corporation Buybacks, MCD has failed to hold those new highs as heavier than normal Dark Pool Quiet Rotation™ to lower inventory of shares continues. The stock is now stepping down in a short-term topping formation.
MCD (McDonald’s Corporation) has been trading within a very strong 1M Channel Up (RSI = 70.206, MACD = 17.720, Highs/Lows = 10.6514), which as seen by its technical action is on the Higher High zone.
Based on its historic volatility within the Channel Up, we expect MCD to pull back for a Higher Low towards 190 before resuming the uptrend. A potential Death Cross...
Use the low of ~0.088 ; use the high of ~1.22 & project out from there and these critical levels present themselves
acknowledge the strength of these gann levels
manage your own risk