McDonald's shares ended Wednesday trades lower by   (0.69-)   or ((-0.56% from the previous closure after passing the level 124.80, as this level contributed the bullish direction for the previous medium and long trades, also coincides with breaching the channel’s support shown above during the current trades, comes after the price formed a support at 116.00 level, with the continuous support from the SMA 50 and 100.

Holding below 124.80 level will push the price for the decline trying to retest the support level of 116.00 again, but trading back above 124.80 will push the price ahead 123.50 resistance.

Its recommended to go bearishly by the stability of 124.80 resistance to target the next support 116.00 and to stop losses by holding above 124.80 again.