McDonald’s Corp.: technical analysis
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 296.00 |
| Take Profit | 281.00 |
| Stop Loss | 305.00 |
| Key Levels | 281.00, 290.00, 296.00, 298.00, 300.00, 305.00, 315.00, 320.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 305.00 |
| Take Profit | 320.00 |
| Stop Loss | 298.00 |
| Key Levels | 281.00, 290.00, 296.00, 298.00, 300.00, 305.00, 315.00, 320.00 |
Shares of McDonald’s Corp., the largest fast food chain, are correcting at 300.00.
On the daily chart, the price is moving away from the resistance line of the ascending channel 315.00–290.00, retreating from the year’s highs.
On the four-hour chart, the quotes renewed the year’s high of 298.00 and marked a reversal. After a breakdown of the low of 300.00, the asset may reach the support level of 280.00.
Technical indicators weaken the buy signal: fast EMAs on the Alligator indicator are approaching the signal line, and the AO histogram is forming downward bars, approaching the transition level.
Trading tips
Short positions may be opened after the price declines and consolidates below 296.00, with the target at 281.00. Stop loss is 305.00. Implementation period: 7 days or more.
Long positions may be opened after the price grows and consolidates above 305.00, with the target at 320.00. Stop loss is 298.00.
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