truetradero
Short

McDonalds at key resistance, expecting a correction

NYSE:MCD   MCDONALDS CORP
MCD             is at its Elliott Waves monthly time frame target in the $132 area.
5 waves completed
  • RSI14 is showing bearish divergence.

  • MCD is testing the upper band of its rising channel .

  • $132 area is corresponding to the 1.5x the height of its previous channel projected on its breakout point in 2008.

Minimum target in the $101 area, then possibly $82.
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