McDonald’s (MCD) – Supersizing Down – July 10th, 2020

The bearish DailyPlay for Friday, July 10th is the McDonalds Corp (MCD). MCD has experienced an 8.3% decline over the past month. Its 1M trend turned bearish on July 7th and 6M trend turned bearish yesterday.

Fundamental View

  • 15% decline in revenues expected for 2020 with a lack of guidance
  • MCD has suspended its share repurchase program
  • Higher operating costs and lower margins due to COVID disruption

Technical View

  • Both 1M and 6M trends are bearish
  • Rejection at $190 resistance provides a good opportunity to seek shorts
  • Neutral technical score (6 out of 10) 

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