McDonald's Corporation recently provided an update on the impact of the Coronavirus Pandemic (COVID-19) on its business ahead of the first quarter 2020 results, which are expected to be released on April 30, 2020. In the two months to 29 February, comparable sales in the U.S. and international markets increased 8.1% and 8.5%, respectively. However, the figure decreased by 13.4% and 34.7% in the U.S. and international markets, respectively. Comparable total sales decreased by 22.2% in March.
McDonald's, H4
Pivot: 180.00
Analysis:
Provided that the asset is traded above 169.70, follow the recommendations below:
The timeframe: H4
Recommendation: long position
Entry point: 180.00
Take Profit 1: 185.50
Take Profit 2: 200.00
Alternative scenario:
In case of breakdown of the level 169.70, follow the recommendations below:
The timeframe: H4
Recommendation: short position
Entry point: 169.70
Take Profit 1: 161.70
Take Profit 2: 154.90
Comment:
RSI shows upward momentum.
Key levels:
Resistance
Support
207.40
169.70
200.00
161.70
185.50
154.90
McDonald`s, D1
Pivot: 179.01
Analysis:
While the asset is traded above 153.40, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 179.01
Take Profit 1: 219.70
Take Profit 2: 238.20
Alternative scenario:
If the level 153.40 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 153.40
Take Profit 1: 123.30
Take Profit 2: 105.50
Comment:
RSI is above the neutral area by 50. The MACD is above the signal line and negative. The MACD must breakout above its zero level to cause further growth. In addition, the share are being traded above the 20-day moving average (161.58), but below the 50-day moving average (188.35).
Key levels:
Resistance
Support
275.1
153.4
256.6
123.3
238.2
105.5
We also advise you to pay attention to Apple for intra-day trading:
Pivot: 270.19
Analysis:
While the asset is traded above 263.60, follow the recommendations below:
Time frame: H4
Recommendation: long position
Entry point: 270.19
Take Profit 1: 278.60
Take Profit 2: 282.60
Alternative scenario:
If the level 263.60 is broken-down, follow the recommendations below.
Time frame: H4
Recommendation: short position
Entry point: 263.60
Take Profit 1: 256.80
Take Profit 2: 252.60
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