Short under management: week 17, rebound rejected
McDonald's slips 2.1%, rejected at resistance with a bearish engulfing candle
Short under management: week 17, rebound rejected
Our view last week
McDonald's is in week 16 of a sell signal, now managed week by week. The week just closed gained 4.0%, with volume entirely on the buy side and RSI climbing back to 41 from 32 two weeks ago. The bounce started from a touch on the 20-day moving average, in the 267 area, with a 5% recovery from there — worth watching next week.
This week's summary
McDonald's rebound stalled against a wall of resistance: the stock pushed into the 276 area and got turned back with a bearish engulfing candle, closing the week down 2.1% with 86% of volume on the sell side. The sell signal has been under management since week 17, the short above 11% in profit: under the surface money flow is nearly back to even, but the structure stays boxed between support and resistance.
IQS Phase
72
in tension
Signal Strength
30
decline starting to make lower lows
Sizing
REDUCED
Ranking
#41 / 137
US stocks
Trade P&L %
+11.09%
from signal to today
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