Ideas for trading US stocks on July 26-30
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
McDonald's: burgers and spicy stocks
What happened?
On Thursday, the famous fast-food giant posted financial results for the fourth quarter. According to the data reported, the revenue and the EPS came out lower than Wall Street forecasts.
Revenue came out at $5.31 billion vs. $5.37 billion expected. As for EPS, it appeared to be at $1.7 vs. $1.77.
At the same time, the company boosted sales by menu innovation, takeout, and ordering from mobile phones.
Why did that happen?
On Monday the company made an announcement that raised forecasts by analysts. It introduced a comeback of Spicy Chicken McNuggets and Mighty Hot Sauce for a limited time. Also, the fans are anticipating the launch of the McPlant – a plant-based burger. Like many other companies, Mcdonald's has turned to online food-delivery during the pandemic, giving its preference to mobile ordering.
According to J.P Morgan, the company is well-capitalized and has good chances of post-covid recovery.
Market reaction
At the start of the trading session, the stock of McDonald's has moved to the upside, the first resistance is placed at $215. If it’s broken, bulls will target the next obstacle at $219.2. On the downside, the support is placed at the lower border of consolidation at $207, the next one lies at $200. If you don't now how to trade stocks as CFDs - read this article.
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded Metatrader 5 or FBS Trader app. FBS allows you to trade stocks only through this software.
- Open the MT5 account in your personal area (an account in FBS Trader).
- Start trading!
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