McDonald's broke out to the upside and closed exactly at the top of its Bollinger Band. What does this mean for the stock and is it time to buy or time to take profits?
I still believe the company faces serious tests to its basic business model from many sides and that fighting off said competition will cost money in the form of lower earnings. That said - I'm NOT a buyer of #MCD at these levels. If you bought on the last swing down, I advise you to hold and do nothing here. However, if you bought at much lower levels, taking profits at this level can't be a bad thing.
I still believe the company faces serious tests to its basic business model from many sides and that fighting off said competition will cost money in the form of lower earnings. That said - I'm NOT a buyer of #MCD at these levels. If you bought on the last swing down, I advise you to hold and do nothing here. However, if you bought at much lower levels, taking profits at this level can't be a bad thing.