The Power of the Pattern reflected that McDonald’s (MCD) was on a 10-year support line on 11/19 in the chart below (see post here) and each time it has hit line (1), its been a valuable time to buy it for 10-YEARS!
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The chart below reflects a nice bounce by MCD in the past three weeks, bouncing over 6% off the 10-year support line.
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Investors that bought at support can now bring stops up to protect profits.
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Sonny….Dividends are great and powerful. I prefer to chart without them, focusing on price only. If we can make it work on price only, the dividends become icing on the cake!
Thanks for the viewership and great thoughts,
Chris
Chris, Thanks for the MCD analysis. Have you ever considered dividend yield in your calculations? I know you’re a technician and the charts are the primary consideration but like in the case of MCD, a company that pays a dividend, do you think the dividend yield has anything to do with the ups and downs? High yield/low price buy, low yield/high price sell. Thanks, Sonny
Thanks Chris, that was again, a great call from you. Following your recommendations I bought MCD calls back in November and , as usual, took profit too early…but was able to draw an easy $1000 🙂