Chart Glance: Breaking out of a neutral, sideways, trading zone. High volume shows distribution. MCD is not a volatile, exciting stock that moves a lot. Support 1: $97 Support 2: $90.19.
McDonald’s shares were down 3% in pre-market trade after its February sales missed estimates on weak Europe and Asia numbers. Even though sales expectations were “high” for McDonald’s, same-store sales were a “disappointment,” but global sales up 7.5%! Did the strong USD finally catch up to McDonald’s numbers? Sales growth slowed last month on weak numbers in the Middle East and Africa, where sales growth decreased by 1.6%. However, in the US, a new food item called, “Chicken McBites and the AMAZING Shamrock shake,” should improve McDonald’s balance sheet.