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McDonald's Corp., Technical Analysis

3/14/2023 10:07 AM

On the daily chart, the formation of a global correction continues, which has recently been implemented within the local corridor with dynamic boundaries of 255.00–270.00.

On the four-hour chart, it can be seen that the quotes have not decided on the exit point from the channel and are kept in the middle of the range as part of a wave of decline to the support line around 255.00. The corridor can work as a Flag trend continuation pattern, and then, the breakout of the resistance line at 270.00 will become the starting point for future growth.

Technical indicators keep a poor sell signal: fast EMAs on the Alligator indicator are close to the signal line, and the AO histogram forms alternating bars.

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