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Chart Alert: McDonald's Corporation And Family Dollar Stores

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January 13, 2011 – Comments (0)

Scanning the market for the perfect swing trade setup can be a tough task to handle. Thousands of charts, each one slightly different. Which chart will be the one that makes the investor a profit?  Today, there are two charts, almost identical in nature that look to be solid for a move to the upside in the coming days. The first, McDonald's Corporation (NYSE:MCD) has fallen sharply of late, over lagging sales and continued fears of the future. While the chart has taken a tumble, today it hit the daily 200 moving average and filled a key gap from August 31st, 2010. The combination of an oversold chart and these support levels makes it a high probability bounce play in the coming days.  The second chart setup is Family Dollar Stores, Inc. (NYSE:FDO). Yesterday, FDO fell into the 200 moving average on the daily. Already today, the stock is inching higher off that key support line. Both these stocks look solid in the near term and could see a good bounce for a week or so. Finding the chart setups is key to any profitable trader or investor.

Gareth Soloway
InTheMoneyStocks.com


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