McDonald's $MCD was bullish throughout 2017 and into January, but started to slide as general market sentiments turned bearish. While the general market has rebounded a bit, MCD still looks heavy and likely to find a lower low before rebounding. MCD Daily Chart(click to enlarge)200-day Simple Moving Average:- We can see that price came down to the 200-day simple moving average (SMA) at the start of February.- For the most part, even though price dipped below this SMA, price eventually rallied back up to stay above the 200-day SMA.- However, by the end of last week, price was able to close under the 200-day SMA.- The inability to push above $168 and the 100-day SMA adds to the bearish outlook.- We should anticipate a test of the 154.30 low. A break below that opens up the 151.85 and 148.20.- Essentially we can expect price to test the psychological level of $150 before anticipating any support.