Stock Market Pick: MCD lost SMA200 and is now in bear territory

Ticker: MCD

McDonalds MCD lost SMA 50 and eventually its major supoort, SMA200.  At this point, this stock is bearish and may see some more selling until it establishes a new support level.  Traders will most likely short this stock while it is showing weakness.  With the tax reform’s potential tax saving, these level may offer a good entry for long term investors as MCD is still a very stong stock backed by a good fundamentals.

I am increasing my long term holding by a bit but not touching it in my day trading and swing trading account.

Disclosure:  I remain long in my long term account. 

Tags: free stock chart, long term investment, McDonalds, food, stock market

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