Today’s instrument is the McDonald’s Corp. (MCD) stock traded in NYSE exchange under the ticker MCD.
When we look at the MCD’s chart, we can see it trading a channel between $258 resistance and $255 support, up until last Thursday’s session where it fell in the closing to the $253 breaking support. On Friday however, it bounced back to the previous trading range of $257 reversing the fall and re-establishing stability. It was last found trading at $255.39
Photo by Shahbaz Ali on Unsplash
Today we can expect a move towards the $258 resistance or consolidation at the current level.
If however, it doesn’t manage to hold on to the current level then a move towards and below the $255 can be expected.
(Click on image to enlarge)
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