McDonald’s (MCD) has a pretty nice uptrend. Near the rejection line of the channel and under the 99.80 level, the price has made a consolidation that looks more like a Double Bottom. If the price will fall under 98.00, then we might expect a retest on the 96.00 level. This setup is based on a short speculation in case of a correction.
If the price will come back to the local resistance a new opportunity of buying will occur. A breakout over $100.00 dollars per share might trigger a new rally for this company.
Confirmation Level: 97.70
Take Profit: 95.89
Stop Loss: 98.65