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MCDONALD’S MISSES Q3 PROFIT ESTIMATES, STOCK FALLS BELOW MA5 - Capital Street FX

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    • MCDONALD’S MISSES Q3 PROFIT ESTIMATES, STOCK FALLS BELOW MA5
22-Oct
20:35 IST

McDonald’s stock is currently trading at 202.95-lower by 3.29% as compared to its previous close. In the Premarket trading session, the stock was trading lower by 2.88%. The stock has continued falling after the opening bell.

The company reported its third-quarter earnings before the market opened on Tuesday. Stocks of McDonald’s fell after the company’s third-quarter profit missed market expectations for the first time in two years. The company generated an EPS of $2.11 for the third quarter. The EPS was below the consensus estimates of $2.21.

McDonald’s brought in $5.43 billion in revenue for the third quarter. The revenue was below the market expectation of $5.49 billion. The company said same-store sales rose 5.9% globally in the quarter ended 30th September. Same-store sales growth was above the consensus estimates of 5.4%.

On the technical front, the current price is below the MA5. The current price is below the lower band of the Bollinger Bands, and is heading downwards. The RSI is currently at 34.77% and suggests that the market can move in the downward direction.

 

TRADE SUGGESTION- LIMIT SELL AT 202.98 TAKE PROFIT AT 201.68 STOP LOSS AT 203.63

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