McDonalds has been taking a beating over the war in Ukraine.
It's starting to look pretty good for a long term buy into the recovery that'll ensue when tensions start calming down. Last week we broke through support at 231 but bounced off support at 218. With the Russia exodus estimated to cost McDonald's 50 million a month, we could test previous support at 205 and 190.
Wait patiently for it to bottom out before making your entry. RSI is likely to hit oversold within the coming weeks if the selling continues.
It's starting to look pretty good for a long term buy into the recovery that'll ensue when tensions start calming down. Last week we broke through support at 231 but bounced off support at 218. With the Russia exodus estimated to cost McDonald's 50 million a month, we could test previous support at 205 and 190.
Wait patiently for it to bottom out before making your entry. RSI is likely to hit oversold within the coming weeks if the selling continues.