In Jim Cramer's game plan for this week he was bullish on McDonald's (MCD) , Plug Power (PLUG) , Beyond Meat (BYND) and International Flavors & Fragrances (IFF) . McDonald's reported strong third-quarter results Monday morning and the stock is higher in early trading.
We were not a fan of McDonald's charts back on September 25 and wrote that, "Make your shares of MCD "to go" for the next several weeks. Avoid for now."
Let's check how the charts are positioned now.
In the updated daily bar chart of MCD, below, we can see that the shares are higher on the day but off their best levels and below the opening. Prices gapped above the flat or neutral 50-day moving average line but could finish the day back below the average line. (It's that kind of day.) Prices are above the flat 200-day moving average line.
The On-Balance-Volume (OBV) line could be turning upward again but has been in a sideways pattern since the middle of September. The Moving Average Convergence Divergence (MACD) oscillator recently moved below the zero line for a sell signal but that could get reversed soon.