McDonalds trading around its highest levels – analysis - 06/05/2016

McDonald's shares ended Thursday trades Higher by (-0.05)   or (-0.04%) from the previous closure after passing the level 124.80, as this level contributed the bullish direction for the current medium and long trades, comes after the price formed a support at 116.00 level, with the continuous support from the SMA 50 and 100.

The bullish movement requires the price stability above 124.80 level, as holding below this level will push the price for the decline trying to retest the support level of 116.00 again, but the continuous holding above 124.80 will push the price ahead 123.50 resistance.