McDonald’s Corporation (MCD) – stock is trading around $202.33 dollars as of January, 07, 2020 and offering a possible buying price between $199.10 – $209.06. Let’s look at the stocks technical actions using a weekly chart.
2. After a huge run up, the stock broke down back in mid September.
3. Since the breakdown the 50 day moving average (DMA) short term support line turned into resistance.
4. As the sell of accelerated, the stock witnessed a free fall in end of October.
5. The sell off was so powerful, the stock even lost the 200 DMA support.
6. The stock finally regained the 50 DMA line few weeks back.
7. The stock also regained the 200 DMA, now.
8. The stock is offering possible buying price between $199.10 – $209.06, with a stop loss at $183.17.
This stock is already part of the Stocks Above 100 Dollars pick and performance will be tracked here .
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