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McDonald's Stock Consolidates, Could Move Lower

Published 01/24/2022, 07:36 AM

When we look at the McDonald’s (NYSE:MCD) chart, we can see it trading a channel between $258 resistance and $255 support, up until last Thursday’s session, where it fell to $253 after breaking support.

However, on Friday, it bounced back to the previous trading range of $257, reversing the fall and re-establishing stability. It was last found trading at $255.39.

Today we can expect a move towards the $258 resistance or consolidation at the current level.

If, however, it doesn’t manage to hold on to the current level, then a move towards and below the $255 can be expected.

McDonald's Corporation

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