Bearish Moving Average Cross by McDonald's (MCD)
McDonald's (NYSE:MCD) shares have crossed bearishly below their 10-day moving average of $127.61 on a volume of 791K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, McDonald's has traded in a range of $87.50 to $129.80 and is now at $127.16, 45% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.5%.
SmarTrend recommended that subscribers consider buying shares of McDonald's on March 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $122.47. Since that recommendation, shares of McDonald's have risen 4.5%. We continue to monitor MCD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses mcdonald's