McDonald's Corp. (MCD) reported earnings late last month and the shares have weakened.
Every time I go out on an errand I pass one or two local McDonald's. I do an unscientific channel check by looking at the number of vehicles in the parking lot and in the drive-up window. The parking lot looks like it is thinning out a bit and that is in the back of my mind as I look at the charts.
In the daily bar chart of MCD, below, I can see that the shares have declined from a high in November. MCD is trading below the declining 50-day moving average line but above the rising 200-day line. The trading volume has increased in recent weeks and suggests that traders are voting with their feet.
The On-Balance-Volume (OBV) line was stalled in November through January and looks like it has turned weaker in February. The Moving Average Convergence Divergence (MACD) oscillator is slipping below the zero line.