Will McDonald's try to bounce?

11 march 2022 86
Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
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For a month now, McDonald's shares have been declining within the downtrend. The decline scale exceeded 15% but now the price has come to the strong support of 217 and there are opportunities for an upward bounce.

 

The last daily candlestick has formed a hammer and the RSI tends to leave the oversold zone. The first target of the bounce will be the level of 226.5, if it is successful, a downtrend line can be tested.

Volkov_Anton
Volkov_Anton

Listed among the best MarketCheese authors
1st in the segment "Currencies"
2nd in the segments "Indices" and "Metals"
3rd in the segment "US stocks"
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