Time to Bite Into McDonalds
10/02/2008 11:11 am EST
MCD is the symbol for the owner of McDonald's restaurants worldwide, which has been in a bull market since 2003.
Since then, this household name has returned more than five times and, despite a devastating bear market for other stocks, continues in a powerful long-term uptrend.
Recently, MCD pulled back from its high at $67, but it has consistently found support at its 200-day moving average and the major bullish support line—both now at just under $50.
This is a cornerstone stock in any portfolio, and wise investors will want to own it for long-term returns—traders can play this stock with short-term bounces. The long-term trend is still bullish.
By Sam Collins of OptionsZone.com