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Restaurants Industry Stocks Technical Analysis - MCDArchive
- 11/8/2024 -
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McDonald's Corp. (MCD) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second consecutive positive week for the McDonald's Corp. (MCD). During the week, the MCD gained 3.80 points, or 1.29%, and closed at 299.00 on Friday, November 8, 2024. MCD was trading at average weekly trading volume.
 Long-term trend: [See MCD long-term trend chart]
A long-term uptrend had started on March 12, 2003 at 12.12 and reached 317.90 on October 21, 2024. MCD gained -305.78 points, or -2522.94%, in 1127 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (308.66). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See MCD medium-term trend chart]
A medium-term uptrend had started on July 9, 2024 at 243.53 and reached 317.90 on October 21, 2024. MCD gained -74.37 points, or -30.54%, in 14 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See MCD weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since July 26, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See MCD short-term trend chart]
A short-term uptrend had started on October 30, 2024 at 289.80 and reached 301.80 on November 8, 2024. MCD gained -12.00 points, or -4.14%, in 9 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 294.47 and resistance is at 302.57. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See MCD daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since October 22, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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