McDonald’s (MCD)
By Wed, Sep 30, 2020
Hey there,
We officially made it to Q4 of 2020!
To celebrate, I’m breaking my diet with a good old McDonald’s Big Mac.
But I also thought I’d see what all the fuss is about since McDonald’s (MCD) is today’s Chart of the Week!
And while the burger is solid, and the fries are a little too salty for my tastes, the stock is exactly what I like — profitable with as little risk as possible.
So long as MCD is above the $220 level, we are buying it.
If we’re above $220, we are long in MCD with a price target of $280.
That’s an almost 30% return with almost non-existent risk.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
