McDonald's Corp. (MCD) Elliott Wave technical analysis [Video]
|MCD Elliott Wave technical analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave 3 of (3).
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Direction: Upside within Wave 3.
Details:
The long-term outlook for McDonald's (MCD) remains bullish, with further confirmation expected once the stock consistently trades above $300. A pullback in Wave {ii} of 3 is anticipated near the previous all-time high (ATH), which could present a buying opportunity before the next move higher.
MCD Elliott Wave technical analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave (v) of {i}.
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Direction: Upside within Wave (v).
Details:
The 1-hour chart suggests that Wave (iv) is a triangle correction, with a potential bottom already in place. If this structure holds, further upside is expected within Wave (v).
- The target for Wave (v) is around $323, which aligns with Wave (v) equaling Wave (i).
- This level could mark the completion of Wave {i}, followed by a minor corrective pullback.
McDonald's Corp. (MCD) Elliott Wave technical analysis [Video]
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