McDonalds Stock Forecast
McDonalds stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Mar 27, 2024)
The McDonalds stock price gained 1.22% on the last trading day (Wednesday, 27th Mar 2024), rising from $278.62 to $282.02. During the last trading day the stock fluctuated 1.51% from a day low at $278.10 to a day high of $282.30. The price has fallen in 6 of the last 10 days and is down by -0.3% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 735 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $723.34 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.81% during the next 3 months and, with a 90% probability hold a price between $266.69 and $282.20 at the end of this 3-month period.
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MCD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 1.23%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The McDonalds stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $288.88. On a fall, the stock will find some support from the short-term average at $281.82. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for McDonalds stock
McDonalds finds support from accumulated volume at $281.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.20 (1.51%) between high and low. For the last week, the stock has had daily average volatility of 1.05%.
Our recommended stop-loss: $265.27 (-5.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (MCD) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect McDonald's Corporation to open at $280.81, and during the day (based on 14 day Average True Range), to move between $277.93 and $286.11, which gives a possible trading interval of +/-$4.09 (+/-1.45%) up or down from last closing price. If McDonald's Corporation takes out the full calculated possible swing range there will be an estimated 2.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $281.73 (0.10%) than the resistance at $285.97 (1.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is McDonald's Corporation stock A Buy?
McDonalds holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.152 Hold/Accumulate Upgraded
Predicted Opening Price for McDonald's Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$280.81 ( 0.430%) | $282.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 285.01 | 1.06 % | |
R2 | 283.40 | 0.490 % | ||
R1 | 282.41 | 0.139 % | ||
Current price: | 282.02 | |||
Support | S1 | 279.20 | -1.00 % | |
S2 | 278.21 | -1.35 % | ||
S3 | 276.61 | -1.92 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 291.93 | 3.51 % | |
R2 | 291.74 | 3.45 % | ||
R1 | 285.97 | 1.40 % | ||
Current price | 282.02 | |||
Support | S1 | 281.73 | -0.103% | |
S2 | 279.14 | -1.02% | ||
S3 | 278.62 | -1.21% |
MCD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 07, 2024 | Feb 29, 2024 | Mar 15, 2024 | $1.67 | 0.598% |
2 | Oct 04, 2023 | Nov 30, 2023 | Dec 15, 2023 | $1.67 | 0.581% |
3 | Jul 25, 2023 | Aug 31, 2023 | Sep 18, 2023 | $1.52 | 0.547% |
4 | May 25, 2023 | Jun 02, 2023 | Jun 20, 2023 | $1.52 | 0.519% |
5 | Feb 02, 2023 | Feb 28, 2023 | Mar 15, 2023 | $1.52 | 0.571% |
FAQ
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