McDonald's stock is expected to target a rebound with the 52-week moving average serving as support. The stock declined after peaking at the August rebound high of ¥8,320, but expectations are growing for a rebound from the 52-week moving average. The weekly Ichimoku Cloud shows a test of the upper cloud boundary, and the rising upper cloud boundary is likely to draw attention to a rebound.
The stock entered a correction after peaking at the rebound high of ¥8,320 reached on 25 August, declining to levels below those seen in March. As a result, it fell below the 13- and 26-week moving averages and declined to the 52-week moving average.
However, the 52-week moving average acted as support during the correction in late June, and the current stance is expected to be to target a rebound by holding this level.
The weekly Ichimoku Cloud shows a test of the upper cloud boundary, and a rebound tracking the rising upper cloud boundary is likely to attract attention.