Big Stacks on Big Macs
We exited a Premium Member trade in MCD yesterday for +28% return on risk. Here's how it all went down...
MCD has attracted sellers at the 90-91 level several times in the past 60 days.
On the morning of September 29th, the food sector was very weak. Heavy selling was taking place in names like YUM and WFM, so we looked for opportunities in the sector. That's when we noticed MCD hanging tough at the 90 resistance level.
One could argue that the relative strength in MCD could be a sign it was poised to break through resistance, but...
Read the full analysis here.
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Posted-In: MCD McDonald'sTrading Ideas
