McDonald's may rise to 314.00 - 318.00

298 is our pivot point.

Our preference

As long as 298 is support look for 314.

Alternative scenario

The downside breakout of 298 would call for 293 and 290.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is above its 20 and 50 day moving average (respectively at 298.021 and 285.9384).

Supports and resistances

320 **

318 *

314 **

312

303.76 (USD-last)

300

298 **

293 *

290 **

Number of asterisks represents the strength of support and resistance levels.