May 6, 2019

McDonald’s, I Am Loving It

Now, I am one of those guys that actually like McDonald’s fast food. I am also one of those guys that love the stock. The trend in MCD has been strong going into earnings. They were breaking out of a longer-term range and really showed strength going into earnings. Since their earnings date, MCD has been back and forth in recent sessions. However, there are still bullish signs the stock has been showing. The recent bounce near the $193 range was a clear sign of that. $193.07 was a previous High that was referenced on the recent drop. With the bounce taking place at that price range, it essentially is saying that previous resistance is now support. That is considered to be bullish and does show institutional interest at that price range. If MCD turns up and breaks above the $200 price level, MCD might be in for a nice run. One of their investors will have to say ”I am loving it!”.

Follow me on Twitter: @DiscipleOfTrend

 

 

 

 

 

about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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