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McDonalds Daily Technical Analysis | 22 December 2017

2017-12-22 11:14 am | Resource: Technical Analysis Section | No Views : 293

During yesterday's trading, McDonalds broke the upper limit of the classical ascending channel on the hourly interval and broke the 173 level during the week, supporting the sellers.

McDonalds Daily Technical Analysis | 22 December 2017

Our short term outlook is neutral on the prices of the fast food shares. While the stock is trading in a major bullish direction, the SMA, SMA and SMA are all negative, indicating the bear's strength in the stock.
Rate of Change 12 Breaks the bullish trend line and is currently retesting it, and the index is trading in a bearish direction.
It is expected that, in case of a break of fast food shares to $ 171.73 might target the level of 167.25 on the other side, in the event of a breach of the US stock to the level of 172.54 $ may target the level of 174.86.
Support: 172.10 - 170.14 - 167.67
Resistance: 176.03 - 178.15 - 181.62
Trend: Down


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