The M-Pattern
Have you looked at the McDonald‘s chart lately? It has formed a really exceptional chart pattern: its own M-logo! Found this great analysis of Trendspider on Instagram. Have a look at the original post here. 😋
McDonald’s has formed a double top at around $300 and is heading south since then, now trading with a -15% discount at $250.
Many M‘s in the past
While some people now start to worry about this „tasty“ but rather bearish sign I would recommend to look at the longterm chart of the past decade. These patterns have shown several times and have proven to be good anticyclical buying opportunities for those who believe in the Burger Company.
My take on this
For me this correction is a great time to DCA my McD position further and I have bought some more last week. I believe the chart will turnaround as it always did in the past decade and before. The company has a bullet proof business modell in my view and has delivered not only Big Macs but also great shareholder returns.
What is your favorite Burger from McDonald‘s? Or do you like the stock better?
