McDonald’s Corp (NYSE:MCD) shares are in the spotlight Tuesday as the iconic fast food chain prepares to bring back extra value meals.

What To Know: McDonald’s on Tuesday announced the return of extra value meals in an effort to offer more affordable menu options.

Starting Sept. 8, the company will offer a $5 Sausage McMuffin with Egg meal that will come with hash browns and a small coffee in the mornings. McDonald’s will also offer a new $8 Big Mac meal that will include a medium drink and fries.

“McDonald’s USA is laser-focused on delivering value and affordability for our customers, and I’m incredibly proud of how our franchisees and teams continue to step up to make it a reality,” said Joe Erlinger, president of McDonald’s USA. 

McDonald’s plans to expand its extra value meal offerings to offer more options for customers to save 15% compared to purchasing the items offered in the meals individually.

The new extra value menu is also expected to include McGriddles, breakfast biscuits, 10-piece chicken McNuggets, quarter pounders and McCrispy sandwiches.

MCD Analysis: Support is identified at $310.00, a recent low, while resistance is at $315.00, the last significant high. The Relative Strength Index (RSI) is calculated at 45.30, indicating the stock is approaching neutral territory, suggesting a potential reversal if it dips below 40.

The MACD is showing a bearish crossover, with the MACD line at 0.50 and the signal line at 0.55, suggesting downward pressure. The market structure displays lower highs and lower lows, confirming a downtrend in the short term.

Analyst ratings show mixed sentiment, with Stifel maintaining a Hold rating with a $315 price target on Aug. 22, Evercore ISI Group maintaining an Outperform rating with a $360 price target on Aug. 8, and JPMorgan maintaining an Overweight rating with a $310 price target on Aug. 7. Benzinga Edge rankings show weak fundamentals, with a Value ranking of 18.03/100, a Growth ranking of 68.75/100 and a Momentum ranking of 48.28/100.

MCD Price Action: McDonald’s shares were flat at $313.64 at the time of publication on Tuesday, according to Benzinga Pro.

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