Solid News

McDonald's Corp., Technical Analysis

9/5/2022 12:08 PM

Shares of McDonald's Corp., the world's largest chain of fast food restaurants, correct within a downtrend at 254.00.

On the daily chart, the formation of a global correction continues, which, after overcoming the resistance line of the Triangle pattern around 250.00, is preparing for a reverse test of the passed level.

The four-hour chart shows that the prospects for a downward movement are quite high, which confirms the proximity of the so-called "technical crosshair" at 243.00, the target level. It can also be supported by the local Head and shoulders pattern, the development of which has already begun.

Technical indicators have completely reversed downwards: fast EMAs on the Alligator indicator crossed the signal line downwards, and the AO oscillator histogram forms bars with a downward trend in the sell zone.

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