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McDonalds Daily Technical Analysis | 3 January 2018

2018-01-03 10:18 am | Resource: Technical Analysis Section | No Views : 281

We have already pointed out that McDonalds shares the upper limit of the classic ascending channel on the hourly interval and the stock is still trading below these areas and now that the US stock failed to break the $ 170 area it has rebounded to break the falling trend line.

McDonalds Daily Technical Analysis | 3 January 2018

We remain neutral on the US stock as a result of the lack of confirmation of the breach of the trend line and the continuation of the stock trading below 173.51 $, the simple moving average and the slow moving average slow intersectively positive but their signal is not important as it is uncertain.
The rate of change 12 is trading in a bullish direction and above the zero area indicating that the bulls are stronger than the bear.
It is expected that if the US fast food shares break to $ 173.51, it might target the level of 175.72, while in the case of a break of the share to $ 171.87 may target the level of 168.45.
Support: 172.10 - 170.14 - 167.67
Resistance: 176.03 - 178.15 - 181.62
Trend: neutral

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