MCD Long-term outlook

The bear might be in a desperate situation as MCD continue to print fresh high without any bearish month yet since the beginning of the year. It is a favorable situation for the bull who has long positions but might not leave any opportunity for bull traders who plan to enter new long positions.

From the fundamental side, the company growth spurs from the increase in delivery and expected to continue its growth solidly.

Read McDonald April 2019 analysis

New Month

Monthly chart

No pullback yet in MCD share prices since the beginning of the year. The share prices continue piling gain and print fresh all-time high without much trouble. The same strategy as in the previous analysis, wait until pullback happens before entering long positions. Short positions are not an option until the share prices form first bearish candlestick on the monthly chart.

Weekly chart

The outlook on MCD weekly chart is similar to the outlook on the monthly chart. No suggestion for positions yet. If pullback happens then traders could eye $190.88 for a possible bounce. On the upside, there is the top of the channel to look for.

Daily chart

The nearest support level to watch on the daily chart of MCD is $200.00 handle. When MCD pullback toward $200.00 then traders could start looking for long positions.

Trade plan

No short positions for now at least until the bear manage to print bearish candlestick close on the monthly chart. Short-term long positions could be taken near $200.00 handle.