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  • McDonald's Corporation (NYSE:MCD) Slams Into Support 1 comment
    Jul 23, 2010 1:02 PM | about stocks: 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
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    Author’s reply » European Stress Test Does Little To Markets


    The stress test results were released and seven out of ninety-one european banks tested failed. They will most likely need to raise about 3.5 billion euros to survive. This was announced by the Committee of European Banking Supervisors. The markets chopped up and down initially but have settled down around the flat line once again. The SPDR S&P 500 ETF (NYSE:SPY) are trading higher by $0.08 at $109.45. Volume spiked on the announcement but has since quieted down.


    As the above post stated, McDonald's Corporation ( was a buy at the sixty minute 200 moving average at $68.95. It has since bounced beautifully back to $69.32. Easy scalp money there going into the weekend.


    Gareth Soloway
    Chief Market Strategist
    23 Jul 2010, 01:16 PM Reply Like
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