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This Is Why $MCD Is Likely To Correct Hard In The Coming Weeks

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Investor should be on high alert for a possible correction in shares of McDonald's Corporation (NYSE:MCD). The reason this should be on the radar is because of a trend line found by connecting pivot highs from May 2014 and May 2016. By connecting those pivot highs with a line and stretching it to today, the line meets the exact highs on McDonald's Corporation. This can be seen in the chart below. An interesting note to investors is that each time this trend line was tagged, a 10-15% correction occurred. This implies the same correction beginning in the next week and lasting for as much as six months. A 15% correction in shares of McDonald's Corporation would bring it to a target of $125.00.

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Stock chart correction likely in shares of McDonald's Corp


This article was written by ST G for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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