Stock of the day: McDonald’s

In today’s Stock of the Day, let’s take a closer look at McDonald's, which has entered a sharp downtrend after a failed attempt to break above key resistance. Last week saw a bearish setup emerge, highlighted by a false breakout above the orange horizontal resistance at the $300 psychological barrier. This breakout, marked by the yellow rectangle, initially looked promising as the price moved higher at the end of September and even tested the level as a new support. However, this move ultimately lost steam, and the price has since dropped back below the support level, signaling a shift in sentiment.