McDonalds (MCD) and Why They Are Still On My Watchlist
Yesterday I posted my long watch-list and on that long-watch-list I showed McDonald's still on there despite a crazy head and shoulders pattern forming on the daily and the intraday charts. If you know me for any time now, you'll know that I steer away trying to trade against those obvious pattern types.
However, just because I have a stock on the long-watch list doesn't necessarily mean that I think they should be bought NOW. Instead, in the case of McDonald's - I'm waiting. Waiting for the head and shoulders pattern to complete, and waiting for a solid bottom to form in the stock.
The McDonalds franchise is in solid shape. By now you've probalby seen a number of their restaurants remodeled around where you live. They are really seeking after constant improvement to their name brand and image.
Here's some other things they are doing right: