The bearish DailyPlay we chose for Wednesday June 29th is McDonald’s (MCD). MCD is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 3.52% move lower and it’s 1m and 6m trend turned bearish on 6/24 and broke below its $77 support level on high volume.
McDonald’s 1m and 6m trends turned bearish on 6/22 and recently broke below its $120 support level on high volume. With a technical score of 5 (out of 10), MCD looks positioned to continue this strong bearish trend lower.