McDonald's may rise to 311.10 - 317.80

278.2 is our pivot point.

Our preference

The upside prevails as long as 278.2 is support.

Alternative scenario

Below 278.2, expect 267 and 260.4.

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 above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 274.579 and 262.274).

Supports and resistances

324.8 **

317.8 *

311.1 **

304.4

289.52 (USD-last)

282.8

278.2 **

267 *

260.4 **

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