City Index | Dec 10, 2019 05:20AM ET
Mastercard (NYSE:MA) CFD/DFT: Trading just off record highs amid a multi-year bull run, Mastercard could be poised for another bullish breakout. A tall bullish candle marks a likely swing low at 281.50, which found support between the 20 and 50-day eMA. Whilst thinner volumes over recent sessions warn the breakout may not be immediate, given the strength of the trend from the 258.51 low, an eventual break higher is favored.
Nextera Energy (NYSE:NEE) CFD/DFT:Its parabolic trend continues (zoon out to see the chart from the 1990’s and you’ll see what we mean) and price action is considering a break to new highs. Having rebounded from 220 support at the trendline, price action is now carving out a bullish flag which, if successful, projects a target around 248.
McDonald's (NYSE:MCD) CFD/DFT:As much as we love them, we’re bearish on burgers whilst McDonalds remains below 200. Having carved out a top pattern between June through October, prices gapped topped proceeded to trade below the projected target around 190. The 50-day eMA ha crossed below the 200-day eMA, both of which are capping as resistance around the 38.2% Fibonacci level and the round number 200. Prices are now consolidating below a cluster of resistance around 200, so we’re waiting for this to break lower or complete its correction beneath the bearish trendline.
Price Action Update:
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