MCD is approaching support at 176.71 (61.8% Fibonacci extension, 61.8% Fiboancci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 185.15.
Stochastic (89, 5, 3) is also approaching support where a corresponding bounce could occur.
MCD approaching support at 178.88 (100% Fibonacci extension, 50% Fiboancci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 185.08.
Stochastic (55, 5, 3) is also approaching support where a corresponding bounce could occur.
Heading there to get lunch this second, just looking at charts and this looks like it is at or very near a top.
Monthly chart with an idea of what could happen.
Monthly Divergence, even a pull back to the top at $150ish is a good gain when leverged.
Market is down on this half day and doing some bargain shopping of quality stocks. Aiming to take it back up to retest the high for Q1 2019 with March single Calls. NYSE:MCD
Symbol: AUDCAD
Prediction : Short
Daily : The trend change, with an Head and Shoulders at the top, now we test the resistance.
4H: The price pullback to 61.8%, the price reject this level, and give a bearish pattern.
1H: I think it's the time for the price to go down now, the price is on this channel, when it will break it will have space to fall .
MCD stock is very popular with the retail trading groups. The footprint of the retail trader systems trading the stock is very obvious on this chart. The candlestick patterns are all indecisive, there are no strong easy runs in either direction, and lots of wicks and tails, which is where retail brokers are reaping huge profits. Overall, it is a very messy looking...
Symbol: $MCD
Prediction : Short
Daily : The price break the last lower low, with a bearish run, it breaks the trendline, now it's time for a pullback.
4H: The price breaks the EMA 50, it start to consolidate on a support.
1H: I wait a pullback to come near the 61.8% zone and the last support which is now a resistance.
This stretched run-up see very light volume following up. A retrace could bring us back to 176ish or even 166ish level. A breakdown of the 184ish level is to be observed.
From closer look, 1 day chart, head and shoulders pattern is forming.
On weekly chart we can see possible elliot waves, long term (more than a year target 230), short term target 180.
observe the news, but I doubt that company as old as mcdonald can shut down, it is much older than facebook though :D.
Good luck
Learning don't invest.
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
