This Fast-Food Titan Is On Fire
Anna Coulling | Mar 29, 2019 03:52PM ET
Love them or hate them, there’s no denying that the McDonald’s Corporation (NYSE:MCD) has certainly delivered over the last two years, in particular since the breakaway from the extremely well-developed congestion phase, which saw the price trade between $90 and $100 for four years. The chart really says it all.
h3 Critical Price Points/h3Since then, the price has continued to rise steadily and this week we began to test a key level in the $190 area on the daily chart. This week's important levels were at $186 and $188.20 and were defined by the accumulation and distribution indicators with the red-and-blue-dashed lines respectively. Both levels have now been breached, with recent strong earnings data providing additional momentum. The technical and fundamental signals continue to point to a further move higher as we wait for another round of earnings next month.
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