FX.co ★ Patterns #MCD | McDonald's Corporation Stock Price

The Triple Top pattern has formed on the chart of the #MCD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 254.70/254.72 with the upper limit 255.49/255.46; the projection of the width is 79 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 254.70, the price is most likely to continue the downward movement.

The Bullish pennant pattern is formed on the #MCD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 252.36, a further uptrend is possible.

The Bearish pennant pattern has formed on the #MCD M30 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 250.97 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Bottom pattern has been formed on #MCD M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 265.75 is broken. The further movements will rely on the width of the current pattern 67 points.

According to M5, #MCD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 272.03/272.06 is broken out, the instrument is likely to move toward 272.21.

According to the chart of M5, #MCD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 270.94 while the median line of the Neck is set at 272.03/272.06. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of #MCD will go towards 272.21.

On the chart of #MCD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 275.21; the lower boundary 274.23; the width of the pattern 98 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 274.08 level.

The Double Bottom pattern has been formed on #MCD M5. Characteristics: the support level 271.15; the resistance level 271.89; the width of the pattern 74 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 70 points.

The Bullish pennant signal – Trading instrument #MCD M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 271.15, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M15, #MCD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 266.06 is likely to encourage a continuation of the downward trend.