#McDonalds - First Target hit The First Target at McDonalds hit today.
Whats next?
If correction goes on, next target should be $139.
Than we have to look if we change direction from short to long.
Trade ideas
"McDonalds: not looking good" by ThinkingAntsOk4H Chart Explanation:
- Price broke the Ascending Channel and started the down move.
- Price went towards the first Support Zone (now Resistance Zone ).
- Now, it has potential to move down towards the Support Zone .
- We are waiting for a sell setup on a lower timeframe to take short trades.
Weekly Vision:
Daily Vision:
Updates coming soon!
MCD hold or sell?MCD is holding its monthly support, if it breaks below this 148 watch for 140 then possible 137-135 gap fill. MCD is strong but the virus could hurt its sales enough to drop it lower.
MCD puts/call signalsMCD caught here, can start looking to buy puts at the 191.8 level but confirmation is below 188.8. Above 195.2 we can watch for higher with confirmation being 198.9
"McDonalds: bouncing from a critical level" by ThinkingAntsOk4H Chart Explanation:
- Price is on a Weekly Ascending Channel.
- Price is on the Support Zone and on the Bottom of the Ascending Channel.
- We expect price to move up towards the Resistance Zone.
Weekly Vision:
Daily Vision:
Updates coming soon!
French Fries, anybody ?So this article supported my hunch about MacDonald delivery business.
If the coronavirus continues to invade more countries, what business would continue to thrive?
MacDonald came to mind as it delivers a lot of burgers each day. And fries too.
If you followed our call to buy this counter in November last year, you would have made nearly 10% profits on it. Congratulations to those who followed.
Looking at the 1H chart, there is a possibility that it might correct a bit. If it does, it is more likely to revisit the support at 206.93 than 202.72.
And no, I am not shorting this stock as it is still riding nicely on all time frame on a bullish move!
Trade safely, always use SL and employ appropriate risk and capital management . GBU.
BUSTI want to be categorically clear..we don't have a 100% win rate..and were not embarrassed of our busted trades. This was MCD and we had a zone here at that arrow. We got the trigger, got long and the following day gapped down. As soon as we took out those lows, we were out. We don't hide our losers or pretend they didn't happen. This was a BUST
MCD Exaggerated Bearish DivergenceExaggerated bearish divergence! Price makes two tops on approx same line, while the technical indicator in this case RSI produces a bearish divergence.
Retracement FailedWe couldn't manage to close the opening window and shall correct this closing attempt now.
MCD Bullish BreakoutA consumer staple defensive, unaffected by tariffs. ER May 1, but would need big miss (like Jan 18) to drop, and in any event lower revenues already in guidance and therefore estimate. Indebted, so benefits from no-hike policy, not really affected if USD falls.
Just broke out, so buy retest of breakout line for top of channel. 2% SL below last low.
BUY 191 SL 187 TP 214 RR 5.75 RISK 2.09%
Trend traders dont try and pick tops Follow the trend. The last trade for a trend trader in a trend will almost always be a loser. Id rather buy all dips and catch as much as i can of the move and get stopped out on the last trade, then think every new high is the top. Just follow the flow. This has longer term targets at 250 so overall have a bullish bias on this. Trade one decision to the next. NO trigger NO trade
Targets are being hit againMCD at the first target. Same thing we did with abbv. Were taking between 30-50% of the trade off (depending on how you manage a position) and starting to trail up stop (if you bought the stock outright) were in trade management mode now.
MCD Failed BreakoutMCD turned and ran down at a strong previous all time high. The action was on moderate volume. The bottom failed to complete, and a retest of the bottom support levels may develop.
MCD wave example You can see what your wanting to do is figure out what the trend is..let the wave tell you what the trend is and give you the support and resistance In that trend you need to take the trades. Your looking for clarity. If one time frames is messy and sloppy then find a time frame that gives you a clear picture on whats going on. Let the wave do the heavy lifting in your trading
Trading Edge 2020 Portfolio -Trade #5- MCD - Call Debit SpreadTicker: MCD
Position:
- Feb 14th Expiry
- Long 210 Strike call = 3.78 - Delta 0.92
- Short 212.50 Strike call = 1.90 - Delta 0.62
- Net cost = $1.88
- Break even at expiry = $211.88
- Max profit = $0.62 (33%)
- Run 5x contracts = $940
Profit/ Exit targets:
- Exit position if MCD closes below the 21 ema on the daily
- Max profit is target, you may wish to run 80% max value of spread as your exit ($2.376 GTC sell order for spread)
Rationale:
- MCD has bounced off the 21 ema
- MACD is signaling a potential bullish continuation on both daily and lower time frames (4hr, 1hr etc.)
- MCD is within 4% of prior highs
- Moving averages are all stacked bullishly
- Appears to be in a solid uptrend, looking for some near-term trend continuation
-TradingEdge
