Swing Trade Idea – (MCD) – November 25, 2020
Our bullish trade for Wednesday, November 25th is McDonalds Corp (MCD). MCD is part of the Discretionary Sector (XLY). XLY has experienced a 5.09% gain in the last month and its 1M and 6M trends turned bullish early November.
MCD recently found support at the $210 level and 100 D MA. Its 1M trend turned bullish yesterday and with a technical score of 4 (out of 10), MCD is a weak stock that will likely move higher.
As a stop loss, if MCD were to trade below $211 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $3.00.
