McDonald's Levels to Watch as Stock Slides After E. Coli News

1 hr 45 min ago

Shares in McDonald’s (MCD) plunged 7% in premarket trading after health authorities said late Tuesday they were investigating an E. coli outbreak possibly linked to the fast-food chain’s Quarter Pounder burgers.

The projected drop in the stock price 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 stock was trading at $293 about two hours before Wednesday's opening bell.

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.

Read the full technical analysis piece here.

–Timothy Smith

Futures Point to Lower Open for Major Indexes

2 hr 12 min ago

Futures tied to the Dow Jones Industrial Average were down 0.5%.

S&P 500 futures were down 0.2%.

Nasdaq 100 futures were off 0.3%.

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