MCD. McDonalds: Daily chart setting bearish divergences

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MCD has been raising alongside the market but, while the whole market (as well as XLY fund) added around 30% since 2016 lows, MCD was only able to push up a half of it.

On one side, the stock potentially is underperforming but technicals say it has a very strong resistance to break. Daily chart shows bearish divergence, same as Weekly timeframe, and we are very close to the Median Line of the Fork.

I believe shorts are welcome once the price goes to a double-top formation in 132-134 area. SL can be set at 136.5 with TP1 at 121 and TP2 at 111

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تم فتح الصفقة

Shorted 132.58

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ملاحظة

I closed a second position which targeted 111 USD epr share as my forks Median Line has been tagged and I don´t think it may want to go and test teh Hagopian Line. Keep another short to 121 though

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ملاحظة

Sorry, a chart with no annoying P/L square looks much better...

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أغلقت الصفقة: تم الوصول لوقف الخسارة

Broke higher on a very nice impulse. Wait for a backtest and long or?..