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McDonalds Daily Technical Analysis | 29 January 2018

2018-01-29 10:12 am | Resource: Technical Analysis Section | No Views : 315

In the January 18 report we pointed out that McDonald's shares crossed the upper limit of the symmetrical classical triangle over the hourly interval and the American stock continued to rise from then until last Friday, where the stock gained the entire target 178.15 area.

McDonald's Daily Technical Analysis | 29 January 2018

Currently, the stock is trading in a bullish direction, the simple moving average and the slow moving average are positively cross-crossed, and the long-term average is forming a support area for the fast food stock.
The rate of change 12 is trading in a bullish direction as it broke through the bearish trend line during Friday trading, which supports the buyers.
It is expected that if the fast-food shares break above $ 178.15, it might target the 181.62 level, while in the case of a break the American stock level 176.03 might target 172.70.
Support: 172.10 - 170.14 - 167.76
Resistance: 176.03 - 178.15 - 181.62
Trend: Up

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