McDonald's trims gains - Analysis - 20-03-2017

McDonald's stock (MCD) rose in the intraday levels, scoring a profit of 0.52% in the last session, or 0.66 points, after hitting an intraday high at 129.98, bouncing off it lower and trimming the gains, while trading along the upward correctional trend line in the short term, with ongoing positive pressure from the SMA for the last 50 days period, coupled with a noticeable rise in trading volumes, and with an influx of positive signals from relative power indicators after they reached extremely oversold levels compared to the stock's upward movement.

Therefore we expect more gains to come for the stock, provided it pierces the resistance of 128.60, targeting thereafter the resistance of 131.96.