MCD. McDonalds: Daily chart setting bearish divergencesMCD has been raising alongside the market but, while the whole market (as well as XLY fund) added around 30% since 2016 lows, MCD was only able to push up a half of it.
On one side, the stock potentially is underperforming but technicals say it has a very strong resistance to break. Daily chart shows bearish divergence, same as Weekly timeframe, and we are very close to the Median Line of the Fork.
I believe shorts are welcome once the price goes to a double-top formation in 132-134 area. SL can be set at 136.5 with TP1 at 121 and TP2 at 111
