McDonald’s Long Trade from an Uptrend
Shares of McDonald’s went up by 8.6% during the month after a decline of 18% in July-October 2023. This is a good reason for a rebound, I think. The famous fast-food restaurants chain has a solid leadership in the segment. This will result in a stronger financial results compared to other peers even during a widely expected recession. If the market continues to rally, its stocks would also perform a good upside. The recent recovery started at the support of a multi-year uptrend. I will be waiting for stock prices to scale back to $250-260 per share, and open a long trade with targets at $310-320 and a stop-loss at $225. The stop-loss would be removed in case of a stock market general downturn. I believe McDonalds stock prices could rapidly recover even after a drop, and resume climbing as it was in March 2020.
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