Bosphorus_Capital

MCD (McDonalds) sold at 95 for a 9% drop. Looking to sell again

Corto
NYSE:MCD   McDonald's Corporation
In the linked post we sold MCD between 95 to 98 and were looking for a decline to 83 at the weekly trendline.

MCD fell to 87.6 and then recovered.

Now I believe it presents another selling opportunity. The move between 97 to 87 looks impulsive and the move up looks like the first leg of a three wave correction.

Between 93.5 to 97.4 presents a good selling range imo with stop strictly above 97.46. If the move is indeed impulsive, the issue has no business above 97.46
Exención de responsabilidad

La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.