McDonald’s shares fall the most in one week on Monday, company announces Doug Goare’s retirement, business reorganization

McDonald’s Corporation (MCD) said on Monday that after 40 years of service, its President, International Lead Markets & Chief Restaurant Officer, Doug Goare, will step down on December 31st 2018.

McDonald’s shares closed lower for the fifth time in the past nine trading sessions in New York on Monday. It has also been the steepest daily loss since September 17th. The stock went down 1.20% ($1.99) to $163.31, after touching an intraday low at $161.12, or a price level not seen since September 20th ($159.37).

Shares of McDonald’s Corporation have retreated 5.12% so far in 2018 compared with a 9.19% gain for the underlying index, S&P 500 (SPX).

In 2017, McDonald’s Corp’s stock surged 41.41%, thus, it outperformed the S&P 500, which registered a 19.42% return.

Meanwhile, from January 1st 2019 the restaurant chain is to begin operating under a new organizational structure, as its global business will be reorganized into three segments – the United States, International Operated Markets and International Developmental Licensed Markets.

“The organisation we created as we were beginning our turnaround in 2015 helped us make decisions more quickly, act with greater agility and strengthen the performance of our markets,” Steve Easterbrook, McDonalds President and Chief Executive Officer, was quoted as saying in the companys press release.

“This new organisational structure provides us the opportunity to continue building on our progress, making sure McDonald’s remains positioned to run great restaurants and better serve our customers,” Easterbrook added.

According to CNN Money, the 26 analysts, offering 12-month forecasts regarding McDonald’s Corporation’s stock price, have a median target of $187.00, with a high estimate of $200.00 and a low estimate of $165.00. The median estimate represents a 14.51% upside compared to the closing price of $163.31 on September 24th.

The same media also reported that 17 out of 31 surveyed investment analysts had rated McDonald’s Corporation’s stock as “Buy”, while 11 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the McDonald’s stock are presented as follows:

R1 – $163.58
R2 – $163.85
R3 (Range Resistance – Sell) – $164.12
R4 (Long Breakout) – $164.94
R5 (Breakout Target 1) – $165.89
R6 (Breakout Target 2) – $166.31

S1 – $163.04
S2 – $162.77
S3 (Range Support – Buy) – $162.50
S4 (Short Breakout) – $161.68
S5 (Breakout Target 1) – $160.73
S6 (Breakout Target 2) – $160.31

By using the traditional method of calculation, the weekly levels of importance for McDonald’s Corporation (MCD) are presented as follows:

Central Pivot Point – $162.39
R1 – $168.21
R2 – $171.13
R3 – $176.95
R4 – $182.78

S1 – $159.47
S2 – $153.65
S3 – $150.73
S4 – $147.82