Don't Ignore This Chart

McCafe Is Worth Looking At (MCD)

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McDonald's is in the process of rolling out a few new store formats. I saw one first hand in Sydney, Australia on its opening week. While there were some bugs to be worked out at the time, the format was interesting. Well, apparently it's full steam ahead with the format and the plan is to turn 1000 stores each year.

The chart has been in a terrific up trend through 2017. In 2018 it has been consolidating. Well, that all changed today with a burst out of the top of the range.

The break out has a nice volume bar with another full day to be added. The MACD turning up just above zero looks very bullish. 


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Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com

Book: Stock Charts for Dummies
Twitter: Follow @Schnellinvestor

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
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