McDonald's may rise to 295.60 - 302.00

Our pivot point stands at 260.7.

Our preference

The upside prevails as long as 260.7 is support.

Alternative scenario

The downside breakout of 260.7 would call for 250.5 and 244.3.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 257.429 and 256.3692). Finally, McDonald's is trading above its upper Bollinger band (standing at 272.67).

Supports and resistances

308.4 **

302 *

295.6 **

289.5

276.69 (USD-last)

264.8

260.7 **

250.5 *

244.3 **

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