Not many bullish scenarios in blue chips out there.
MCD broken RSI trendline
MACD crossover
MAs on the verge of crossover
Bullish scenario=Retracement to 175 area
Bearish scenario=Retracement to 167 area
I posted so much less stock ideas this quarter as generally I like to long stock that I'm willing to invest, and look for bullish set-ups.
While even I'm still bullish in so many names, but there aren't so many bullish set-ups in this market.
Wait a minute, defensive stocks are big exceptions and perfect choice for bottom-up strategy recently, and it's more than...
I'm sure that's why we're up almost 30% on the year.
It's not like they invented some new piece of technology I mean come on.
Not done with my defensive name hunt.
MCD - after accumulation
waited for LPS (LPS its not a stock, its a Phase at WYCOFF Analyses) above ressitance, stronger than market
Entry at 181.09
stock now at 185.95 so stop at break even without Taking any profit
try to see where the stock can go
will calculate Profit Target and will load it :)
Short term bearish on MCD. Just hit key resistance level matched by bearish RSI/Price divergence. I'll stay short for the time being unless it breaks out above its resistance level. This also came after a long run up, thinking of buying puts while they're cheap.
$MCD McDonalds Breaking Out - targeting $200 by next earnings report late January. Expect to possibly see a near term pull back and retest of $179 support.
Note: Informational analysis, not investment advice.
Markets are patterned. It is just that sometime, well maybe most of the time, patterns are not that clear but when they are you have to jump at them and ride along.
MCD is one of them. Just sprinting out of a contracting triangle label wave 4 of the impulse wave that started at the low of August 2015. Since the end of wave E, MCD has unfolded in beautiful...
