MCD Triple: 100 SeemsTo Be the Top
Shares of McDonald's (NYSE: MCD) can't seem to have it their way when it comes to getting above the 100 level. The stock has traded past 100 on three occasions (January 2012, April 2013 and May 2014) only to fail to hold each time. In April 2013, the shares pulled back to the 93 level before finding support.
With MCD now trading 93.06, right at the 93 support level from last April, it will be interesting to see if MCD can find a floor at these levels. If not, 87 looks like the next technical level of support.
Chart Courtesy of ThinkorSwim.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.