MCDONALDS: Buy Opportunity
The price reached the support zone between 192.00 and 190.00 levels. In spite of a breakout below SMA200, which gave us a trend reversal signal, the market can continue the previous uptrend. I refer to a similar structure, which the market passed in 2016 and 2018 years.
It is possible to think about buying based on the confirmed reversal signal from the support zone or following a breakout above the local downtrend line.
Stop orders must be placed below 190.00 support level. The main profit target should be at 221.00 resistance.
It is possible to think about buying based on the confirmed reversal signal from the support zone or following a breakout above the local downtrend line.
Stop orders must be placed below 190.00 support level. The main profit target should be at 221.00 resistance.
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