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Analysis: #NYSE #MCD

Case 45 #McDonalds Corporation

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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MCD 1/7
McDonald's has been in a spectacular bull run since 2003 but peaked at 221.93 in August 2019 and corrected heavily. The short and medium term trends are bearish but ......

MCD 2/7
..... the long term trend remains strong and we expect price to rise to a new all time high of 245 by the third quarter of 2020.

MCD 3/7
Chart 1
Monthly Chart: A close below the rising #trendline warns of a deeper correction. towards the #SMA 20 at 185.17.

MCD 4/7
Chart 2
Weekly Chart: Breaking lower below the SMA 20 & 50 and a strong weekly bearish bar. Price would now have to close back above the rising dashed trendline #pivot (off the close) at 201.92 to challenge firm #resistance at 209.40.

MCD 5/7
Chart 3
Daily Chart: Price has broken below the main #movingaverages and bounced off the trendline clone - a 2 day close below targets 177.57

MCD 6/7
Chart 4
Weekly Chart: The #Strategy - printed on the image.

MCD 7/7
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