Shares of McDonald’s Corp., the largest fast food chain, are correcting at 253.00.

On the daily chart, the price is moving within the downward channel of 258.00–233.00, preparing to test its upper border.

On the four-hour chart, the quotes are close to the resistance line of the range at 257.00, preparing to break it. Its probability is much higher than the possible decline to the year’s low of 240.00, which will begin to develop in the event of a reversal.

Technical indicators maintain a poor buy signal: fast EMA on the Alligator indicator are above the signal line, and the AO histogram forms correction bars above the transition level.

Trading tips

Long positions may be opened after the price grows and consolidates above 257.00, with the target at 265.00. Stop loss is 254.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 250.00, with the target at 243.00. Stop loss — 255.00.