$300 - important mark
If we look at the McD Chart we see that the iconic M-Pattern is completed and we are on the way up since a few weeks now. What is important now is that we cross the $300 mark significantly, otherwise this would be a very bearish chart situation, kind of a triple top. Third time then the market would reject the share price at this level.
Management is adjusting
What is promising in my view is that the McDonalds Management seems to have understood the challenges and is steering in the right direction. Since prices got a bit too high after the inflation hikes. They introduced a $5 budget meal in the US and now they offer free fries on fridays until end of this year to lure customers back into their restaurants. In addition they are introducing new tasty products like The M in Germany to offer new choices.
I am confident that the company made the right choices and we will soon see new ATHs here. What do you think?
