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Beware McDonald's, but these other restaurant stocks look attractive, says Katie Stockton

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Mcdonald's Corp News

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The chart analyst breaks down the chart in McDonald's and a few other stocks.

The sell-off for McDonald's Corp. driven by the E. coli outbreak was meaningful from a chart perspective. The drop resulted in confirmation of intermediate-term overbought 'sell' signals from both the weekly stochastics and the DeMark Indicators. Additionally, MCD is overbought from a long-term perspective in our work. As a result, the MCD chart has the look of false breakout, which tends to give way to more downside.

are near $18.70 and then $20.90, both of which are Fibonacci retracement levels. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here .

 

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