McDonald's Turnaround Plan-Investors Loving It?

'' MCDonald's Corp (NYSE:

) shares are trading higher by $2.76 at $100.78 in Tuesday's session. For third day in a row, it found support at the $97.60 level and has staged an explosive rally. Until today's price action, the issue had been in a $94.46 to $99.84 trading range since March 11, zig-zagging its way in the range as investors evaluate the merits of new turnaround plan. Apparently, some investors have taken a liking to the plan and aggressively purchased the issue in today's session. It has surpassed the $100 level for the first time since March 4, reaching $101.08 so far before falling back into the $100 handle. The current high coincides with its March 2 at $101.09. It should be noted that today's rally is taking place on higher than average volume as 8M shares has already changed hands compared with its 20 day average of 6.9M.