Stock Analysis: Today’s Best Top Swing Trade Idea 2024 This Week 2024 – McDonald’s Corporation (MCD).
Trade Details: Monday, 29 July 2024, McDonald’s Corporation (MCD) stock price closed at $261.42. According to the weekly time frame, the stock has been creating a higher high (HH) and higher low (HL) structure on the chart. The price is trading within an ascending channel. Currently, the price has tested the monthly support level and is retracing to the hidden resistance zone on the upside. The 50-day exponential moving average also creates a dynamic resistance zone. We plan to enter a short-term buy position in the market.
Note: If the price breaks and closes below the $245 price level, this bullish setup is invalid.
Buy Trade Idea:-
Buy Entry Range: $261 – $255
Stop Loss: $247.37
Target: $275
Note: Always remember: risk no more than 1% per trade.” Keep trailing your stop loss to secure bigger profits.
Please note this is only an opinion and not financial advice.
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