MCD
has been trading tight, breaking through its' pivot on 7/20. I was able to get a tidy 3.42% risk entry so I opened a full position. She tried to follow through to all time highs early this morning but throughout the course of the day the price pulled back into the base. I didn't get a follow through but the market was knocking down most breakouts today, especially ones that were stretching into new 52 week highs.
I don't like that today's close was near the low of the day on increased volume over yesterday, but that's no reason not to be patient. I'm looking forward to seeing what Monday brings.
Cost: $297.15
Stop: $287
Risk: 3.42% on trade/.56% of portfolio