McDonald's Is Projected Plunge To $250 After A 13% Decline From Its All-Time High

• McDonald's experienced a 6% decline by July 2023, and by September, the stock declined to levels not seen in a year.
• Despite recent setbacks, McDonald's stock has seen a 1900% increase since March 2003.

The iconic McRib sandwich is making a comeback at McDonald's Corp MCD in the fall of 2023, following its temporary departure in 2022.

Since its introduction in 1981, it has been a hit as a seasonal treat.

Although the specific locations are a secret, fans can start counting down the days until November, when they can find the McRib at select McDonald's outlets once again.

The return of this iconic sandwich is not the only comeback story in the McDonald's narrative. Investors are eagerly watching the company's stock trajectory, hoping for a resurgence in its value.

In May 2023, the stock neared the crucial $300, a psychological resistance level.

It failed to surpass this significant threshold for two months in a row, indicating a substantial barrier.

By July 2023, the stock's struggle became even more pronounced, highlighting the strength of this resistance.

The stock price took a significant hit, dropping by 6%, as it neared the crucial daily 200 simple moving average.

But things took a turn for the worse in September, when the stock not only reached this average but also broke through it.

As the stock approached another crucial support level at $271, a benchmark set by the high of January 2022, further obstacles awaited.

At this juncture, there was a brief pause, but soon after, the stock's price declined by an additional 7%, reaching a level not seen in the past year.

However, it's important to place these recent fluctuations within the broader financial journey of McDonald's.

Since March 2003, the company has been on a long-term bullish trend, with its stock value increasing by a staggering 1900%.

This trajectory has had its downturns, but even with the recent 15% decline, it's too early to interpret it as a shift from bullish to bearish.

The weekly 200 simple average, currently at $239, could potentially act as strong support, helping the stock regain its longstanding upward momentum.

After the closing bell on Thursday, October 5, the stock closed at $252.23, trading down by 1.43%.