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Second of the week! Let’s review a few more names:
McDonald's Corporation (NYSE: MCD)
MCD broke out of its bullish pennant consolidation and formed a breakaway weekly imbalance at 310-315.
If there's a pullback next week, watch for a retest of this area. Otherwise, MCD is likely to see continuation into the 1.618 Fib level at 359.63.
The Coca-Cola Company (NYSE: KO)
KO broke out of its ascending triangle consolidation, forming a breakaway weekly imbalance at 73-74.
Watch a retest of this area on any pullback. Otherwise, KO is likely headed into the 1.618 Fib extension sitting at 86.31.
Johnson & Johnson (NYSE: JNJ)
JNJ continues its push higher after breaking above the 1.618 Fib extension sitting at 223.65. It closed the week with a weekly imbalance at 222-227.
On the lower 4h timeframe, JNJ is trading in a short-term ascending channel. No bearish divergence is currently noticeable on the RSI, although a bearish stochastic crossover showed up.
Watch a breakdown of this ascending channel for a pullback into the weekly imbalance area. Otherwise, JNJ is likely to see buying action near channel support and selling action near channel resistance.
If JNJ breaks above the ascending channel, then it likely accelerates towards the 2.618 Fib extension at 294.41 next.
@TigerWire @TigerStars @TigerEvents @CaptainTiger @MillionaireTiger
$McDonald's(MCD)$ $Coca-Cola(KO)$ $Johnson & Johnson(JNJ)$ $Tesla Motors(TSLA)$ $NIO Inc.(NIO)$
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