October 4, 2010
Mc Donald’s Stocks Going Strong!
stock pick, Mc Donald’s. They are the largest chain of hamburger fast food restaurants in the world and I’ll be sharing to you my technical analysis on it.
The stocks of McDonald’s Corporation or MCD as listed in the Dow Jones has been on an uptrend since 2003 when it was still at $12 per share. At $75 now, it had multiplied by more than 5 times in 7 years. Imagine being able to hold on to those stocks that long, that’s not bad at all despite going through the 2008 financial crisis! As we zoom in, we could see a steeper trend which is the 14-month upward trading channel. The stocks could most likely continue to move in this direction until the channel gets broken. In case the stock breakdown from the 14-month channel, the next support could be the $70.00 psychological level then after than is $65.31. If the stocks further ascend or maintain to move within the channel, it needs to first clear out it’s 76.26 all-time high as there could be heavy selling pressure in that level. If that gets cleared out, the next resistance could be $80.00. Well, in any case, as long as the uptrend on Ronald’s hamburger chain remains intact the stocks will most likely be bullish.