Stock of the day: McDonald’s

In today’s stock of the day, let’s take a closer look at McDonald’s, which is continuing its bullish reversal. After forming bottoms in June and July, the price has successfully reversed and surpassed a key resistance area around $265, now marked in yellow. This level has transitioned into a very important support zone. Currently, two key levels are in focus: the broader yellow-white support area and a narrower orange resistance zone around $277.

As long as the price remains below the orange resistance, there’s no strong buy signal. However, if McDonald’s manages to close the day and the week above this orange resistance, it would provide an excellent long-term buy signal. This would indicate that the bullish momentum is gaining traction, setting the stage for further gains in the future.