McDonald's (NYSE:MCD) was downgraded from Outperform to Market Perform at Bernstein today. The stock closed yesterday at $99.18 on volume of 4.5 million shares, below average daily volume of 5.5 million.

Potential upside of 9.3% exists for McDonald's, based on a current level of $99.18 and analysts' average consensus price target of $108.39. The stock should find initial support at its 50-day moving average (MA) of $97.59 and further support at its 200-day MA of $88.42.

Over the past year, McDonald's has traded in a range of $72.89 to $102.22 and closed yesterday at $99.18, 36% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.5%.

McDonald's Corporation operates and franchises fast-food restaurants worldwide. The Company's franchised and company operated fast food restaurants offer a variety of low price fast foods in locations around the world.

SmarTrend recommended that subscribers consider buying shares of McDonald's on October 21st, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $91.77. Since that recommendation, shares of McDonald's have risen 8.1%. We continue to monitor MCD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.