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 327.49/328.36 with the upper limit 329.41/329.32; the projection of the width is 192 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 327.49, the price is most likely to continue the downward movement.

The Bearish Flag pattern has been formed on #MCD at M30. The lower boundary of the pattern is located at 324.43/326.53 while the upper boundary lies at 326.57/328.67. The projection of the flagpole is 771 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 324.43 is broken, the price will move further downwards.

According to the chart of M15, #MCD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 324.72 – 324.72 and upper border 326.68 – 326.68. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Bearish pennant pattern has formed on the #MCD M30 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 324.43; the projection of the flagpole height is equal to 771 pips. In case the price breaks out the pattern’s bottom of 324.43, the downtrend is expected to continue for further level 324.13.

According to the chart of M5, #MCD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 324.72 – 324.72 and upper border 326.68 – 326.68. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Bearish Flag pattern has been formed on #MCD at M5. The lower boundary of the pattern is located at 326.30/327.76 while the upper boundary lies at 327.78/329.24. The projection of the flagpole is 584 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 326.30 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the #MCD M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 326.30 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 Triple Bottom pattern has been formed on #MCD M5. It has the following characteristics: resistance level 329.55/329.24; support level 328.17/328.34; the width is 138 points. In the event of a breakdown of the resistance level of 329.55, the price is likely to continue an upward movement at least to 327.87.

The Bearish pennant pattern has formed on the #MCD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 328.64, a trader will be able to successfully enter the sell position.

The technical pattern called Head and Shoulders has appeared on the chart of #MCD M30. There are weighty reasons to suggest that the price will surpass the Neckline 333.46/334.45 after the right shoulder has been formed. So, the trend is set to change with the price heading for 334.15.