McDonald's Bearish Moving Average Crossover Alert (MCD)
McDonald's (NYSE:MCD) shares have crossed bearishly below their 10-day moving average of $113.00 on a volume of 1.4 million shares. This may provide swing traders with 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 $131.96 and is now at $112.69, 29% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.8%.
SmarTrend recommended that its subscribers protect gains by selling shares of McDonald's on July 27th, 2016 by issuing a Downtrend alert when the shares were trading at $120.51. Since that call, shares of McDonald's have fallen 5.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses mcdonald's