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McDonald's Corporation (NYSE:MCD) Slams Into Support

|Includes:McDonald's Corporation (MCD)

McDonald's Corporation (NYSE:MCD) reported earnings this morning that did not live up to Wall Street expectations. The stock is sharply lower, down 3.39%.  If you look at the chart below, you can clearly see that McDonald's is hitting the 200 moving average on the sixty minute chart at $69.95.  This is also a key even number play and should work as an extra level for a short term bounce intra day.  McDonald's profit rose 12% to $1.23 billion. Second quarter revenue was $5.9 billion vs $5.6 billion. Second quarter EPS was $1.13 vs $0.98.

Gareth Soloway
Chief Market Strategist

Stocks: MCD