McDonald’s stocks failed to overcome resistance level of 94.0 and resumed a downtrend movement.
The main tendency on a larger time frame is still descending, for this reason we recommend selling MCD papers.
Long-term time frame of relative strength index is in O column which signifies about bears’ strength.
The first target is placed at 90.6.
Axel’s Levels for Today:
Daily pivot point: 93.22.
If the price is above the pivot point, the asset is bullish.
If the price is below the pivot point, the asset is bearish.
Resistance 1: 93.63.
Resistance 2: 94.41.
Support 1: 92.44.
Support 2: 92.03.
After support level of 92.44 is broken, we recommend selling MCD stocks.