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Trade Setup McDonald’s on Possible Correction

Interval: Daily

trade-setup-mcdonalds-on-correction-26.03.2013

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

Trade Setup McDonald’s on Possible Correction by
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