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Watch for Shares of McDonald's (MCD) to Approach Resistance at $96.18
Feb 25, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of McDonald's (NYSE:MCD) have bullishly opened above the pivot of $94.78 today and have reached the first resistance level of $95.72. Analysts will be watching for a cross of the next upside pivot targets of $96.18 and $97.58.
McDonald's share prices have moved between a 52-week high of $101.04 and a 52-week low of $83.31 and are now trading 15% above that low price at $96.21 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.
McDonald's has overhead space with shares priced $96.21, or 4.0% below the average consensus analyst price target of $100.17. McDonald's shares have support at the 50-day moving average (MA) of $92.12 and additional support at the 200-day MA of $90.07.
SmarTrend recommended that subscribers consider buying shares of McDonald's on December 6th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $87.75. Since that recommendation, shares of McDonald's have risen 7.3%. We continue to monitor MCD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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