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Anyone read candlestick charts?

Old 07-19-2007, 06:58 PM
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Default Anyone read candlestick charts?

MCD looks kinda like a triple top. I am going to keep a close eye on it in the coming days. Got moved up to a 5 FWIW.
Old 07-20-2007, 10:18 AM
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Default Re: Anyone read candlestick charts?

Yup kinda looks like a triple top on the daily...although on a weekly it appears more of a flag IMHO .. As the triple is a reversal pattern, and the flag indicates possible continuation, not sure which side you would look to take.. I would be hesitant to get short without strong confirmation of a breakdown in light of the general market trend.. As I write this, the stock is breaking into blue skies while the Dow is down 105 pts. on the day..so no sign of reversal there..Don't forget to watch reaction to earnings report on the 24th ..Just my thoughts/opinions

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