Technician
Short

Technical Analysis : McDonald's At Critical Support

NYSE:MCD   MCDONALDS CORP
397 4 6
Technical Analysis
After breaking the minor falling channel ( I mentioned in my prior long term analysis 8 months ago, check links below)the price headed to retest the top of the main long term rising channel , but Price failed around the major high at 102.22 again. And that keeps my overall bias bearish , a break and weekly closing below 92.20 may give further confirmation for the the bearish formation, as the price would complete a double top formation, within the context of a wider potential triple top. That could signal a move to 83.30 major low and neckline for a major long term bearish triple top.

I will keep my eyes on 93.20 level for now, which should determine the next trade.

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My best regards,
Technician
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HexVex
2 years ago
''I'm Loving It'' :)
+1 Reply
Technician TOP HexVex
2 years ago
Hahaha
Reply
ZaloRostam
2 years ago
Now is above 92.20 (93 Wednesday close), do you still think this is bearish? we should wait longer for bearish signal? thanks for all your helps
Reply
Technician TOP ZaloRostam
2 years ago
Failed to breakout below 92.20, no weekly closing yet. That makes me neutral for now as we might see a bounce.
Reply
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