Short-Sale Set Up - McDonald's (MCD) Late-Stage Failed-Base Set-Up 2/23/16
McDonald's (MCD) has rallied back up to its 50-day moving average after previously failing on a breakout attempt in late January. The rally has run into volume resistance right at the 50-day line, making MCD a short here using the recent highs near 120 or a straight 3% upside stop as your stop-loss. The initial downside target would be the 112.71 low or the 200-day line at 105.56.
We own a short position in MCD.
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