McDonald's Head & Shoulder Pattern Spells Stock Collapse

McDonald's Corporation (NYSE:MCD) has a head and shoulder pattern on the daily chart. This is a bearish chart pattern with a calculated target down to $102.00. The current price of McDonald's is $117.44, -0.26 (-0.22%). The key is it MUST break the neck line first. This has yet to happen which means the pattern has not triggered. If you are looking to short McDonald's stock, don't do it until you get a close on the daily chart below $116.50.

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By Pro-Trader

Anthony Jackson