“I’m Loving It”:
The catchy sing-along phrase for McDonald’s maybe starting to translate to the stocks chart. Sure it is most likely benefitting from the defensive posture investors are showing presently, but PRICE action must be respected. The week ending 3/19 the stock jumped nearly 5%, its best WEEKLY gain in 7 months, accompanied by the strongest WEEKLY volume in one year. MCD now trades just off all-time highs and is nearing a cup base pivot about 3% higher from here, and a breakout could really accelerate the move northward. It pays a dividend yield of 2.3%, and on the bottom of the WEEKLY chart, below we put up probably an unfair comparison from former best in breed casual diner CMG. Remember MCD spun off this name 15 years ago, and it shows how MCD has been outshined by its former parent. CMG has bounced between the round 1400-1500 numbers the last 2 weeks, and now sports a double bottom with handle pivot of 1511.10, and one must exhibit patience with both these names, and wait for a CLOSE above each of the pivots.