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MCD has Either $99 or $91 in its Sights

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October 15, 2013 – Comments (0) | RELATED TICKERS: MCD

McDonald's (MCD) continues to trade in this slightly declining channel.

The line in the sand for it is $93. After that $91 is the next likely resting place.

We bounced back in September when it tested the bottom channel, however the more it gets tested the more likely it is to break. That means it is more likely to break this time around than it was last time. 

The better trade would be if it would indeed bounce, because then you have a nice opportunity for a move to $99. To the short side, for now, there is a price target of $91 which is far less. 

Here's the technical analysis of MCD:

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