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McDonalds Daily Technical Analysis | 31 January 2018

2018-01-31 08:58 am | Resource: Technical Analysis Section | No Views : 277

McDonald's shares broke the downtrend line on the hourly interval as a result of the sellers' pressure on the stock. Therefore, the stock failed to breach 178.15 yesterday, which led to selling waves that burned green and land.

McDonalds Daily Technical Analysis | 31 January 2018

Fast food stocks are trading in a bearish direction and the simple moving average is breaching the slow moving average, which has been confirmed.
The rate of change 12 is trading in a bearish direction and breaking the bullish trend line during yesterday's trading.
It is expected that, in the case of a break of fast food shares level of 170.85 $ may target the level of 167.76 on the other side in case, the penetration of the US stock level of 173.61 may target 177.90.
Support: 172.10 - 170.14 - 167.76
Resistance: 176.03 - 178.15 - 181.62
Trend: Up

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