McDonald's driven lower by current resistance - Analysis - 11-10-2018

McDonald's stock touched the important resistance of 171.56, bouncing off it lower and turning the gains into losses before the close, marking a decline of 0.86%, or 1.46 points, while attempting to gather momentum to help it rise anew, as it also vents off overbought saturation in the RSI, amid the dominance of the upward medium-term trend, with positive support from the 50-day SMA. 

Therefore we expect more losses for the stock, as long as the resistance of 171.56 holds on, targeting the support of 163.75. 

Expected trend for today: Bearish