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.
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.
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.
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