Fries with that?
Love them or hate them, there’s no denying that McDonald’s stock price 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 monthly chart really says it all.
Since then, the price has continued to rise steadily, and in this week’s trading session we are now testing a key level in the $190 area on the daily chart. The important levels this week have been at $186 and $188.20 and defined with the accumulation and distribution indicators with the red and blue dashed lines respectively. Both of these levels have now been breached, with recent strong earnings data also providing additional momentum. Both technical and fundamental analysis signals continue to point to a further move higher, as we wait for a further round of earnings next month.
By Anna Coulling
Charts from NinjaTrader and indicators from Quantum Trading
Source: https://www.annacoulling.com/stock-trader-tips/fries-with-that/
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