Arcos Dorados Holding Inc (NYSE: ARCO)

Arcos Dorados Holdings, Inc. is an Argentina-based company engaged in the operation of McDonald's franchisees. The Company serves over 4 million customers through the operation of 1,840 McDonald's-branded restaurants in 20 Latin American countries, such as Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, French Guiana, Trinidad & Tobago, Mexico, Peru, Guadeloupe and Panama, among others.

To review Arcos' stock, please take a look at the below with my added notations:

ARCO had been in an overall sideways move since May. During that time, the stock had held a clear level of support at $12 (red). Even though the market has caused most stocks to move higher over most of the last 6 months, ARCO had not been able to follow along and has recently broken below $12. This breakdown is both a new 52-week low and a break of a clearly defined support level.