Economies.com provides the latest technical analysis and forecast of the american stocks, in order to keep track of the trend of the US stocks.
McDonald's stock returned lower in the intraday levels, after the resistance of 160.98 held on, recording a loss of 0.45% in the last session, or 0.72 points, while getting weighed down by a negative pattern that formed in the short term, the Rising Wedge pattern, with negative signals from the RSI after reaching extremely overbought levels, coupled with negative pressure from the 50-day SMA.
Therefore we expect more losses for the stock, as long as the resistance of 160.98 holds on, targeting the support of 154.92.