Promising
In this post last week I told you about the current dip of the McDonald’s stock. The price is suffering after weaker earnings than expected. Now after whst happened on Friday it seems that there is the chance of a comeback: Right when the price dipped under the $250 mark we saw a nice bullish reaction with a rally back to a weekly closing of $259. That’s a daily plus of 2.7%, not too bad.
It’s still to early to call it a turnaround but this will take place if we make it back sustainably above the $275 price range.
My limit buy order triggered at $250, as probably many others too, which was probably the reason for the rally. You do not often get a quality Blue Chip like McDonalds with a 15% discount.
