McDonald's may fall to 233.30 - 237.60

Our pivot point stands at 258.5.

Our preference

The downside prevails as long as 258.5 is resistance.

Alternative scenario

Above 258.5, look for 265.6 and 269.9.

Comment

The RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (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 266.2055 and 271.0278).

Supports and resistances

269.9 **

265.6 *

258.5 **

255.7

252.07 (USD-last)

241.6

237.6 **

233.3 *

229.1 **

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