May undergo a squeeze here before taking a course of direction. Resistance clearly between $301-$304

McDonald’s potentially gearing up here for a push higher after its share price dipped following its earnings report. Currently, the share price trades at around $294.39 a share. We can see on the daily chart that the uptrend remains intact, with support along the ascending trendline. The stock found support at $281.44. The resistance is clearly between $301.50 and $304.12, therefore, a move above it would confirm that further upside is likely. Stocks have a tendency of undergoing a squeeze before taking a course of direction, we can see the price is trading (contracting) in the tighter end of the triangle. The likelihood here is that it could grind sideways before either breaking resistance or re-testing the support. A break above the upper trendline would lead to fresh all-time highs, whereas a break below the ascending trendline, could then lead to a slide towards the support of $281.44. Looking at the technical indicators, the MACD seems like it is now turning positive and the RSI is almost positive as it reads 54.