McDonald's Higher Fails To Make New All-Time High After Wells Fargo Upgrade

by Joel Elconin, Benzinga Staff Writer

April 17, 2017 10:34 AM | 1 min read | Make a Comment

McDonald's CorporationMCD

shares are trading higher by $0.24 at $131.00 in Monday's session. Off the open, it appeared the issue would make a new all-time high after Wells Fargo upgraded the issue from Market Perform to Outperform.

However, following a higher open, it rallied to $131.77 before reversing course. That exceeds its recent high for the move from April 5 at $131.58, but it is just shy of its all-time high made in May 2016 at $131.96.

Since reversing course, it has drifted lower but has yet to reach Thursday's closing price of $130.76, as $130.91 stands as the low for the session as of 10:30 a.m. EST. If the decline continues, there may be additional support at Friday's low of $130.57.

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