McDonald’s stock is grabbing central headlines as the MCD stock projects bullish momentum ahead. The MCD stock is showing a golden cross formation on its chart, exhibiting buildable strength for the chart that is currently brewing in full swing. What is the next stock target for McDonald’s? Let’s explore the possibilities.
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Jim Cramer Finds MCD Stock “Valuable”
Per a recent Jim Cramer update, CNBC’s Mad Money host believes McDonald’s stock possesses high future value. Cramer, in his recent interview, stated how MCD is a high-value stock, emphasizing the fact that the brand is highly responsive to the needs of its customers.
“When you complain to them, like I complained to them for the seven-dollar and fifty-cent Egg McMuffin, you know what they came back and said? You’re right! It’s too expensive. We’ve got to lower the price. They are. I happen to think that Chris is terrific, and one of the things is that Chris is responsive; he recognized that they raised the price too much. That’s what Costco did. The companies that are not conscious of it, or seem to be able to escape, think that they’re okay. People liked it; they really wanted it. . .Anybody who offers good value—I think McDonald’s is offering good value.” As stated by Insider Monkey.
McDonald’s stock has gained 7.9% year-to-date, proving its high mettle and value at the same time. A notable stock analysis firm, TD Cowen, has raised MCD stock value to $330 now, adding that the fast food brand’s expansion to the EU can trigger major gains in the process.
Printing A Golden Cross On Stock: How Bullish Can It Be?
A golden cross formation on a stock chart is generally bullish. It simply refers to how a stock is primed to encounter a long-term bull market emergence, with high trading volumes involved.
“A golden cross is a chart pattern in which a relatively short-term moving average crosses above a long-term moving average. It is a bullish breakout pattern that forms when a security’s short-term moving average (such as the 50-day moving average) crosses above its long-term moving average (such as the 200-day moving average) or resistance level. The golden cross indicates the possibility of a long-term bull market emerging. High trading volumes generally reinforce the indicator.”
Per the TipRanks MCD stock data, MCD stock may hit $373 in the next 12 months. The stock at present is trading at $315.
“The average price target for McDonald’s is 329.90. This is based on 28 Wall Street analysts’ 12-month price targets, issued in the past 3 months. The highest analyst price target is $373.00, and the lowest forecast is $250.00. The average price target represents a 4.07% increase from the current price of $316.99.”
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