McDonald's Corp

MCD remains entrenched in a Stage 4 downtrend marked by sequential lower highs and lower lows with EMAs sloping lower. Long- and medium-term bias are firmly bearish, but extreme oversold and extension below the EMAs render immediate sell execution unfavorable. Optimal engagement is on relief rallies into the declining 9/20 EMAs or prior breakdown areas.

• ↑220M loyalty program users sustain retention and revenue growth.
• ↑46.9% adjusted operating margin yielded $4B in restaurant margins.
• ↓U.S. comparable sales up only 0.8% in Q2 reflect execution issues.