You know you are old when you can recite a 14 word tag line twenty years later. McDonald's (MCD) popped up on the radar today as the dining stocks have really ramped up lately. Could it be the ability to buy McCafe coffee for home or an improvement in same store sales?
While McDonald's tested resistance today, it was the highest close since the gap down in July. Seasonality is also good for McDonald's in November and December.
About the author:Greg Schnell, CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).