McDonald's Breaks Out 2.78%
After a 9-month waiting period, McDonald’s has finally created new all-time highs.
The previous all-time high was back in January this year at $271.
Following that, price then went into a range between $217 and $271 and managed
to pick up enough momentum this past week to force a breakout from consolidation.
Our task now is to confirm whether this is a fake breakout or the beginning of a
long-term trend. The way we confirm this as being the start of a trend is by waiting
patiently on the sidelines.
We need to wait for a pattern of higher highs and higher lows to develop, which is
usually a sign of a bullish trend. That will give us the confidence that McDonald’s
is embarking on the next leg of the bull trend.
Waiting will not cause us to miss out because once the confirmation is set, then
we can aggressively compound and maximise our profit on the way up.
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
The previous all-time high was back in January this year at $271.
Following that, price then went into a range between $217 and $271 and managed
to pick up enough momentum this past week to force a breakout from consolidation.
Our task now is to confirm whether this is a fake breakout or the beginning of a
long-term trend. The way we confirm this as being the start of a trend is by waiting
patiently on the sidelines.
We need to wait for a pattern of higher highs and higher lows to develop, which is
usually a sign of a bullish trend. That will give us the confidence that McDonald’s
is embarking on the next leg of the bull trend.
Waiting will not cause us to miss out because once the confirmation is set, then
we can aggressively compound and maximise our profit on the way up.
If you enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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