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.
- 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
- 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)