MCD fell from a head and shoulders top and price completed a bit more than 100% of the fall, but not much. Price is on the prior neckline which can serve as support.
Price hit C and appears to have bounced. ABC Bullish is a common pull back pattern and the target is D.
Targets in large type are targets 1. Small type is targets 2, if targets 1 are surpassed.
Possible stop under C or where you see support.
Long entry level can be paramount.
I bought this on the gap fill yesterday.
No recommendation.
It seems like Dividend stocks are the place to be as of late. During a depressed economy, real estate (XLRE), health care (XLV but in a rising wedge right now), (XHE) (XHS/pulling back right now), utilities (XLU/Overbought right now)(DUK, EIX FE etc). Sometimes materials do well during hard times (XLB) but not always, commodities, and Conglomerates or Stalwarts that folks know will not disappear during a recession. Consumer staples, (XLP) often outperform Consumer discretionary (XLY). I try to think "What are the goods people can not or will not go without?"
Examples of Stalwarts are PG, WMT, MCD etc. and are not what we think of as growth stocks as a rule, just reliable.
EPS (FWD)
9.99
PE (FWD)
24.70
Div Rate (FWD)
$5.52
Yield (FWD)
2.24%
Short Interest
0.81%
Market Cap
$185.34B
Price hit C and appears to have bounced. ABC Bullish is a common pull back pattern and the target is D.
Targets in large type are targets 1. Small type is targets 2, if targets 1 are surpassed.
Possible stop under C or where you see support.
Long entry level can be paramount.
I bought this on the gap fill yesterday.
No recommendation.
It seems like Dividend stocks are the place to be as of late. During a depressed economy, real estate (XLRE), health care (XLV but in a rising wedge right now), (XHE) (XHS/pulling back right now), utilities (XLU/Overbought right now)(DUK, EIX FE etc). Sometimes materials do well during hard times (XLB) but not always, commodities, and Conglomerates or Stalwarts that folks know will not disappear during a recession. Consumer staples, (XLP) often outperform Consumer discretionary (XLY). I try to think "What are the goods people can not or will not go without?"
Examples of Stalwarts are PG, WMT, MCD etc. and are not what we think of as growth stocks as a rule, just reliable.
EPS (FWD)
9.99
PE (FWD)
24.70
Div Rate (FWD)
$5.52
Yield (FWD)
2.24%
Short Interest
0.81%
Market Cap
$185.34B
Note
Communication stocks (XLC) can sometimes do well during in a bad market as well.Note
4-8/pattern noted on hourly that may take this back down to long entry level or slightly below.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.