8 Takeaways From McDonald's Chart

Schaeffer's Investment Research
  MAY 24, 2013 2:40 PM

Despite MCD's recent strength, analysts are lukewarm toward the stock as 10 out of 21 maintain "hold" ratings.

 


Today’s chart is of McDonald’s Corp. (NYSE:MCD), which franchises and operates McDonald’s restaurants in the global restaurant industry. Its restaurants offer various food items, soft drinks, coffee, and other beverages. The company operates approximately 34,000 restaurants in 120 countries around the world.


Click to enlarge

Recommendation:  Long

What I Am Looking At:
Strategy:  Buy at current level as shares could be supported from the trendline, $100 level, and peak put open interest.  Or wait for a potential breakout of triangle pattern.

This article by Tony Venosa, CMT, was originally published on Schaeffer's Investment Research.

Below, find some more great content from Schaeffer's Investment Research:


Daily Game Plan – Inside Day

Why This Current Pullback Could Have Legs

Trading 101: Head & Shoulders Bottom?


Twitter: @schaeffers
No positions in stocks mentioned.