McDonald's Gets Fried
This morning, the leading fast food stock McDonald's Corp (NYSE:MCD) is trading lower by $1.06 to $97.50 a share. This leading restaurant stock is one of the only stocks in the sector to decline while the major stock indexes are rallying higher. Short term traders should watch for intra-day support around the $97.00 area. The daily chart of MCD stock has been making lower highs and this could cause the stock to trade lower over the next week or so. MCD stock still has good short term daily chart support around the $94.50 level.
Most other lead leading fast food restaurant stocks are trading higher on the session. Leading restaurant stocks such as Yum! Brands, Inc. (NYSE:YUM), The Wendy's Company (NASDAQ:WEN), and Panera Bread Co (NASDAQ:PNRA) are all trading in positive territory today.