The upwards trend is intact
As stated a month ago in this post, significant drawdowns of the McDonald’s stock are normally buying opportunities for longterm investors. And it was proven correct again this time.
Since we saw the 52weeks low of $245 in early October the stock has already gained +9% and is now trading at $268. The 5Y Chart shows a clear upwards channel that we touched on the lower side. We are now rising towards the upper side again.
My position
In my view we saw a good opportunity to stack some more McD for a decent price in October and even now we are still about 10% below ATH. I am doing my little DCA and think we have a good chance to see a new ATH in 2024 for McDonalds.
Have you taken the opportunity to stack McD last month?
