Shares of McDonald's Corp., the world's largest fast food chain, correct at 276.00.
The company, which has waited a very long time for positive news from China due to the easing of quarantine restrictions, may face a much less dynamic market recovery. Leading experts predict that the growth in consumption in the country will be slow after the coronavirus relief, as people are now afraid to visit catering establishments for fear of getting infected there. This problem could negatively affect McDonald's Corp., as the corporation has planned a massive restaurant opening program in China, which accounts for more than half of all planned new restaurants in 2023.
Despite the expected difficulties, the issuer's financial position remains quite stable, and the next report will be published on January 25, from which analysts expect revenue at 5.67B dollars, slightly below 5.87B dollars in the previous quarter. The forecast for EPS is 2.43 dollars, corresponding to 2.68 dollars in the previous quarter. On December 15, the next payment of increased dividends will take place, amounting to 1.52 dollars per share, corresponding to a yield of 2.24% per annum.
On the daily chart of the asset, the trading instrument has left the limits of the local Triangle trend continuation pattern, having broken the resistance line.
Technical indicators are in a buy signal: the AO oscillator histogram is above the zero level, and the fast EMAs of the Alligator indicator are above the signal line.
Resistance levels: 280.00, 290.00. | Support levels: 267.00, 256.00.