McDonald's Trading Analysis (17/07/2024)
The trend is down. The stock is trading in the range between 365 and 135 EMA. The ascending wave structure are truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.
Trading idea:
- Sell when the formation of the downward wave structure begins, when the wave A breaches the 255.05 (pivot 2 of the wave С).
- Stop-loss at 257.30 over the local maximum of the ascending structure.
- Target price levels at 251.10 and 243.60.
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