MCDONALD’S CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 290.00 |
| Take Profit | 302.00 |
| Stop Loss | 285.00 |
| Key Levels | 243.00, 258.00, 288.00, 291.00, 300.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 285.00 |
| Take Profit | 275.00 |
| Stop Loss | 291.00 |
| Key Levels | 243.00, 258.00, 288.00, 291.00, 300.00 |
Shares of McDonald’s Corp., the largest fast food chain, are correcting at 288.00.
On the daily chart, the price is moving away from the resistance line of the downward channel with boundaries of 258.00–243.00, preparing to test the annual highs.
On the four-hour chart, the quotes are held close to the annual high of 300.00, and the first attempt to test it may occur soon but the probability of a breakout of the level and subsequent upward movement is still low. If the reversal does take place, one of the resistance levels may be reached within the correction.
Technical indicators also maintain a stable signal: fast EMA on the Alligator indicator are above the signal line, and the AO histogram forms correction bars, holding above the transition level.
Trading tips
Long positions may be opened after the price consolidates above the resistance level of 290.00, with the target at 302.00. Stop loss is 285.00. Implementation period: 7 days or more.
Short positions may be opened after the price consolidates below the support level of 285.00, with the target at 275.00. Stop loss is 291.00.
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