MCD Long-term outlook
There is no room for the bears in MCD. After the previous earnings report, the share prices continue experienced strong gains. Nearing the Q1 earnings result which will be released on 30th April, MCD share prices print new all-time high. Traders and investors are optimistic the company will release strong numbers.
At the current time, while the share prices making new all-time high, no reason for traders to take long positions as downside surprise might wipe out traders capital.
In March, the bull push MCD share prices further higher and close the month near all-time high $190.88. This month, there is bullish follow through by the bull and we have new all-time high printed. It is possible for the share prices to add more gain and reach $200.00 psychological number.
At the current time, long positions might need to wait until pullback happens. Short positions are not suggested undercurrent strong bullish environment.
MCD climb above $190.88 in the previous week and manage to close above it. There is not much movement yet this week. The share prices might continue higher or started correction toward $190.88 to test it. Traders could prepare for a short-term long position when the share prices hit $190.88
On MCD daily chart, the pair has a similar outlook to the weekly chart and the direction is upward. No reason to take short positions for now. The white trendline slope is too high which is not ideal to look for long positions near it. It is better to wait for correction reach $190.88 before looking for long positions.
Short positions might need until the pair reach the level near $200.00 and show weakness. Long positions also need a bearish correction either toward $190.88 or the bottom of the orange channel on the monthly chart.