McDonalds Daily Technical Analysis | 10 November 2017
2017-11-10 05:15 am | Resource: Technical Analysis Section | No Views : 275
The SMA is cross with the slow and long term moving average and needs to breach the 166.06 level to confirm the negative cross.
The rate of change 12 failed to breach the resistance level mentioned in a previous report which led to the fall of the American stock during the current week to break the bullish trend.
Currently, the index is trading in a bearish direction and the bulls rebounded from yesterday's oversold levels.
It is expected that the continuation of the fast food share below the level of 167.76 $ may target the level of 162.90, while in the case of penetration of the level of 167.67 may target the level of 170.14.
Support: 161.72 - 156.97 - 151.83
Resistance: 167.67 - 170.14 - 172.10
Shares on Wall Street began the first trading session of the week low after an attack on two facilities of Saudi Aramco, cutting the oil giant's production in half. The United States accuses Iran of being behind the attack, while Tehran has denied the allegations. It is reported that the incident will delay the initial public offering of Aramco. At the same time, more than 49,000 GM workers began a…
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