MCD closes within prior day's range after lackluster session


McDonald's Corp. (MCD) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
MCD finds buyers again around 157.87
MCD closes within previous day's range after lackluster session
MCD ends the day indecisive
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

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 chart for MCD
Volatility

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.

Support/Resistance

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.

Trend

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.

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for McDonald's Corp.
Condition Forecast Direction Win Avg Worst Best Events
Bearish Break through SMA 50 TQ Pro Members Only
Bearish Bounce off SMA 50 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

MCD ends the day indecisive

Aug 15, 2018
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