McDonald's Reaches Upwards Sloping Resistance Line
Here we are looking at MCD on the Daily TF…
As you can see, MCD has run into its macro resistance, at a current price of 298.47. This is the third time MCD has tested this upwards sloping resistance line. Each of the previous two tests led to a sharp sell-off.
Not only is MCD reaching this upwards sloping resistance, but it is also very over extended. For this reason, my bias is bearish, and we can likely expect a sell-off from this level.
I will continue to monitor this chart, and will update you all as I see fit. Trade safely!
Cheers!!
As you can see, MCD has run into its macro resistance, at a current price of 298.47. This is the third time MCD has tested this upwards sloping resistance line. Each of the previous two tests led to a sharp sell-off.
Not only is MCD reaching this upwards sloping resistance, but it is also very over extended. For this reason, my bias is bearish, and we can likely expect a sell-off from this level.
I will continue to monitor this chart, and will update you all as I see fit. Trade safely!
Cheers!!
To see my exact trades:
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
Penafian
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