MacDonalds (MCD): Yuk!

SUMMARY

I don't eat MacDonalds (MCD); though as a kid, I was addicted to their junk foods. The "Yuk!" has nothing to do with the MCD price potential; just my dislike for the unhealthy foods. The below weekly chart shows that the impulse has been in progress for multi years and it's not yet complete! As can be seen, waves 1,2,3 and 4 are placed but wave 5 has yet to put in its full set of subwaves. However, I believe it's about to not too long from now.

The oversold state of the MACD is indicative of a correction that should be near complete. I've labeled the subwaves of blue wave 5. Wave iv is still in progress and could generate a slightly lower low before onsetting wave v. The MACD should correlate and start supporting the wave v upswing so that MCD could hit $200 per share.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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