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McDonald's Corp., Technical Analysis

11/7/2022 10:27 AM

The shares of McDonald's Corp., the world's largest fast food chain, are correcting around 275.00.

On the daily chart, the formation of a global upward correction continues, which has recently completed the development of a local corridor with dynamic boundaries of 243.00–278.00.

On the four-hour chart, the price has come close to the resistance line at 278.00, and an attempt to overcome it may follow today. In case of an exit from the channel and further growth, the resistance level around 290.00 may act as an obstacle for further movement.

Technical indicators have completely reversed upwards and keep a stable buy signal: fast EMAs on the Alligator indicator are above the signal line, and on the AO oscillator, the histogram forms bars with an uptrend in the buying zone.

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