Tue. Feb 20th, 2024

McDonald’s Corp. (MCD:NYSE) is ready to get super sized. Check out the 10 year monthly candle chart. After a breakout in late 2009 and a reached target less than 1 year later, another consolidation/continuation “ascending triangle” classical chart formation is in progress. The breakout line is set at 102.

mcd_m

The 5 year monthly candle chart shows some noise below the rising trend line. Check out this previous post on the “noise reduction” properties of the monthly candle.

mcd_w

Zoom in on the daily candle 1 year chart. Lot’s of noise here with the price action is in no man’s land.

mcd_d

My alerts are set. A monthly close above 102 would give me an implied measured move added to the breakout line at 118.50.

The bearish scenario would be possible with a trigger of my alert at 86.