A clean Rectangle often precedes a big move. Validate your entry.
Sideways movement between parallel supports.
Bearish continuation pattern.
Consolidation. Can break either way.
A clear signal has emerged for McDonald's (MCD) on the daily chart. The stock is trading at $278.61, down 1.84% on the day. The primary technical feature is a Descending Triangle formation. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $270.15, targeting $250.86 with support near $289.29 (R:R 1.01).
What is your outlook on MCD?