Technician
Short

Technical Analysis : McDonald's At Critical Support

NYSE:MCD   MCDONALDS CORP
401 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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Technician
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+1 Reply
Hahaha
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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
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Technician TOP ZaloRostam
Failed to breakout below 92.20, no weekly closing yet. That makes me neutral for now as we might see a bounce.
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