McDonald's may fall to 241.00 - 245.20

Our pivot point stands at 265.9.

Our preference

The downside prevails as long as 265.9 is resistance.

Alternative scenario

The upside breakout of 265.9 would call for 273 and 277.1.

Comment

The RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 269.5075 and 272.74). Finally, McDonald's is trading below its lower daily Bollinger band (standing at 259.8).

Supports and resistances

277.1 **

273 *

265.9 **

263.3

258.11 (USD-last)

249.3

245.2 **

241 *

236.9 **

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