McDonald’s Testing Support—Is This the Next Bullish Combo Meal ?
By:TradingView
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MCD remains in a strong bullish structure, trading within a well-defined blue rising channel, consistently printing higher highs and higher lows.
Price has now tapped into a key confluence zone:
• Lower boundary of the rising channel
• Weekly major low support
As long as this area holds, the bullish structure remains intact, and we can anticipate a potential continuation move toward all-time high territory.
This gives us an edge to look for trend-following long opportunities, with confirmation on lower timeframes before entry.
Invalidation:
A confirmed close below $275 and a breakdown of the channel would weaken the bullish outlook, opening the door for a move toward the next support zone and demand around $245–$250.
Good Luck.
Price has now tapped into a key confluence zone:
• Lower boundary of the rising channel
• Weekly major low support
As long as this area holds, the bullish structure remains intact, and we can anticipate a potential continuation move toward all-time high territory.
This gives us an edge to look for trend-following long opportunities, with confirmation on lower timeframes before entry.
Invalidation:
A confirmed close below $275 and a breakdown of the channel would weaken the bullish outlook, opening the door for a move toward the next support zone and demand around $245–$250.
Good Luck.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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