McDonald's powered to a 52 Week high in trading today and is closing on an all-time high, but this stock has been trapped in a trading range for the better part of three years. The big question is - does this stock have the momentum to break from this range?
I've said several times over the last few years that I don't believe this stock will break from the range and not to purchase over 100 - however, I am swayed by evidence. I do not hold to opinions that facts prove faulty. The chart below shows a powerful breakout and it does seem this stock might indeed make new all-time highs. However, until I actually see it, I'm not switching my bias to the upside.
Short term rating = HOLD
Long term rating = HOLD
I've said several times over the last few years that I don't believe this stock will break from the range and not to purchase over 100 - however, I am swayed by evidence. I do not hold to opinions that facts prove faulty. The chart below shows a powerful breakout and it does seem this stock might indeed make new all-time highs. However, until I actually see it, I'm not switching my bias to the upside.
Short term rating = HOLD
Long term rating = HOLD