Watch These McDonald’s Price Levels as Stock Drops on E. Coli Investigation
Key Takeaways
- Shares in McDonald’s slumped 6% in extended trading on Tuesday after health authorities said they were investigating an E. coli outbreak possibly linked to the fast-food chain’s Quarter Pounder burgers.
- The projected news-driven drop may lead to a retest of a prior 16-month trading range before the stock potentially continues its longer-term uptrend.
- investors should watch important retracement levels on the McDonald’s chart around $300, $280, and $260.
- The measuring principle, which calculates the distance between the trading range’s two trendlines and adds that amount to the breakout area, forecasts a bullish price target of $353.
Shares in McDonald’s (MCD) slumped 6% in extended trading on Tuesday after health…
