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McDonalds Daily Technical Analysis | 10 November 2017

2017-11-10 05:15 am | Resource: Technical Analysis Section | No Views : 275

McDonalds broke the bullish trend line during yesterday's trading as a result of the sellers' pressure on the fast-food shares. The American stock broke the 167.67 level, confirming that the trend is reversed on the hourly interval.

McDonalds Daily Technical Analysis | 10 November 2017

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
Trend: Down

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