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Uptrend Broken SupportArchive
- 5/10/2024 -
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McDonald's Corp. (MCD) Technical Analysis
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| Summary:
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| | It was a first positive week for the McDonald's Corp. (MCD). During the week, the MCD gained 4.68 points, or 1.73%, and closed at 275.00 on Friday, May 10, 2024. It was the best weekly gain since February 23, 2024. Weekly volume was 21% above average.
MCD is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See MCD long-term trend chart]
A long-term uptrend had started on March 12, 2003 at 12.12 and reached 302.39 on January 22, 2024. MCD gained -290.27 points, or -2394.97%, in 1088 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 148.03 and resistance is at 287.57. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See MCD medium-term trend chart]
A medium-term downtrend had started on January 22, 2024 at 302.39 and reached 262.63 on April 30, 2024. MCD lost 39.76 points, or 13.15%, in 14 weeks. The price is now at the 31.11% retracement level.
 Weekly Technical Indicators: [See MCD weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 8, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See MCD short-term trend chart]
A short-term downtrend had started on April 30, 2024 at 276.87 and reached 266.06 on May 8, 2024. MCD lost 10.81 points, or 3.90%, in 8 days. The price is now at the 82.70% retracement level.
 Daily Technical Indicators: [See MCD daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 9, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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