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McDonald's Crosses Above its 10-day MA (MCD)

By Nick Russo

Today, shares of McDonald's (NYSE:MCD) have crossed bullishly above their 10-day moving average of $115.65 on a volume of 711K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher 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 $116.35, 33% above that low. The 200-day and 50-day moving averages have moved 0.56% higher and 0.76% higher over the past week, respectively.

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 4.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses mcdonald's

Ticker(s): MCD