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.
This content is for informational purposes only and is not intended to be investing advice.
