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