MCD re-test long term support/ 50% fibonacci bullish trade

٦ يناير ٢٠١٤

Nice trade here MCD has been bullish of late and has broken through long term support going back to January and has now re-tested that support, which is also a 50% Fibonacci level cluster. With earnings coming on the 23rd of January I would expect bullish momentum into earning. I am looking to do a weekly bull put spread on this trade as earning is around the corner