MCD closes within prior day's range after lackluster session

McDonald's Corporation (MCD) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team


MCD finds buyers again around 157.87
MCD closes within previous day's range after lackluster session
MCD ends the day indecisive


MCD finished the week 1.58% higher at 158.68 after losing $0.62 (-0.39%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (MCD as at Aug 10, 2018):

Daily technical analysis candlestick chart for McDonald's Corporation (MCD) as at Aug 10, 2018

Friday's trading range was $1.64 (1.04%), that's below last trading month's daily average range of $2.09. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Prices are trading close to a key support level at 157.41. Prices are trading close to the key resistance level at 159.54. After having been unable to move lower than 157.96 in the previous session, the market found buyers again around the same price level today at 157.87.

Although the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Buying could accelerate should prices move above the nearby swing high at 159.62 where further buy stops might get activated. Further buying could move prices higher should the market test July's close-by high at 160.98.

Market Conditions for MCD as at Aug 10, 2018

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MCD closes within prior day's range

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