Stock of the day: McDonald's

However, while the numbers remain concealed until Thursday, the company's stock chart offers a narrative of optimism. Currently, McDonald's stock price is elegantly ascending, diligently following the trajectory marked by the black uptrend line. This bullish demeanor is further emphasized by its recent tussle with a significant horizontal resistance, hovering just a tad below the $300 benchmark. To the trained eye, this pattern resembles the classic ascending triangle - marked by its flat top (horizontal resistance) and upward-sloping bottom (dynamic support).

For those familiar with technical patterns, an ascending triangle often heralds a breakout to the upside. In this context, should McDonald's share price manage to close above the pivotal $300 level, it would serve as a strong bullish indicator, signaling an opportune moment to enter a long position.

However, no analysis is complete without acknowledging potential pitfalls. A breach below the steadfast black uptrend line would certainly raise eyebrows. But even then, all is not lost for the bulls. Lying in wait just below is a robust horizontal support level at $280, depicted in yellow on the charts. As long as the stock remains above this yellow sanctuary, the overall bullish sentiment remains intact.

Yet, should the unthinkable occur and the price dips below the $280 mark, it would be a clarion call for bears, indicating a potential shorting opportunity. For now, though, given the stock's current demeanor and the looming earnings release, such a scenario seems less probable.