This prompted us to investigate the group further, which revealed that various stocks are sporting constructive technical formations.
Restaurant stocks charts showing strength McDonalds (MCD) has had a wild ride over the last 10 months and now sits at the same price level that it was trading at last April — eleven months ago.
MCD isn't the only restaurant stock that's sporting an attractive technical pattern.
On the weekly chart, Restaurant Brands International (QSR) looks very similar to MCD, having formed its own inverse-head-and-shoulders formation over the last year.
While this is no indication of what could happen now to MCD, YUM and QSR, it shows how breaking through multi-year resistance can attract momentum.
Persons:
that's, —, Frank Cappelleri
Organizations:
Brands, Texas