McDonald's may rise to 309.80 - 316.40

279.4 is our pivot point.

Our preference

The upside prevails as long as 279.4 is support.

Alternative scenario

Below 279.4, expect 268.8 and 262.1.

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 277.102 and 263.6948).

Supports and resistances

322.8 **

316.4 *

309.8 **

303.4

289.64 (USD-last)

283.7

279.4 **

268.8 *

262.1 **

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