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Watch for Shares of Mcdonalds Corp (MCD) to Approach Resistance at $158.97

By Shiri Gupta

Shares of Mcdonalds Corp (NYSE:MCD) have bullishly opened above the pivot of $156.02 today and have reached the first resistance level of $157.80. Analysts will be watching for a cross of the next upside pivot targets of $158.97 and $161.92.

Potential upside of 0.8% exists for Mcdonalds Corp, based on a current level of $157.04 and analysts' average consensus price target of $158.27. Mcdonalds Corp shares have support at the 50-day moving average (MA) of $124.50 and additional support at the 200-day MA of $112.56.

In the past 52 weeks, shares of Mcdonalds Corp have traded between a low of $110.33 and a high of $159.98 and are now at $157.04, which is 42% above that low price. 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 subscribers consider buying shares of Mcdonalds Corp on February 6th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $124.43. Since that recommendation, shares of Mcdonalds Corp have risen 25.9%. We continue to monitor MCD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts mcdonalds corp

Ticker(s): MCD