MCD breaking out of both patterns, a stop order can be placed few cents above yesterday's high. All indicators are positive for this one and we recently have 50MA crossing above 150MA.
Mcdonalds seems to be forming a nice symmetrical triangle continuation pattern. As symmetrical triangles can also indicate reversals, it is important to maintain a watchful eye for a breakout. Buy or short upon breakout in either direction. Until a breakout occurs I am on the sideline.
The 99% of the global population love McDonald's burgers, but that's not my concern. Basically, this company has been working aggressively on several initiatives to shed its image of an unhealthy, junk food but in fact, it is... and if they want to improve margins and consequently, earnings... is very hard to get it in the short term. Over here you will find a...
Be careful about MCD. On the chart, there is a short signal after a bearish divergence. It's likely a fall of the price at least until area $ 154.50/156.00.
MCD has sold off quite a bit here in the last few months and is hovering above this longer term support level. I decided to go with a asymmetrical set up using a call spread for this play.
+1 Dec21 155/170 call spread for $5.38 db.
Risk: Try to let price action stop me out at the project stop or manage near a 50% loser to keep the risk small.
Profit: Target...
