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Friday, April 20, 2012

MCD - Bounced On A Pile of Cushions

I had no idea what happened yesterday.  But based on the daily chart.  The down target was reached, along with a horizontal gap support as well as the 12 month up-trend line.  I took an initial position yesterday, in case the 200 day MA's (red and magenta) wanted a visit.   The exhaustive volume was too inviting to not get in for some shares.

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