McDonald’s Corp. stocks Elliott Wave technical analysis [Video]
|MCD Elliott Wave Analysis Trading Lounge.
McDonald’s Corp., (MCD) Daily Chart.
MCD Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {v} of 1.
Direction: Upside in wave {v}.
Details: We are looking for a top in wave 1 of (1) or what could also easily be wave (1) of Primary 5 as we have been trading around TradingLevel3 at 300$.
McDonald’s Corp., (MCD) 1H Chart
MCD Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (iii) of {v}.
Direction: Upside in wave (iii).
Details: Looking for upside into wave (iii) as we approach once again 300$. Ideally looking for a classic trading level around 300$ to then confirm the long position towards ATH.
This analysis of McDonald’s Corp., (MCD) focuses on both the daily and 1-hour charts, using the Elliott Wave Theory to assess current market trends and forecast future price movements.
MCD Elliott Wave technical analysis – Daily chart
MCD is advancing within wave {v} of wave 1 (or potentially wave (1) of Primary 5), as it trades around the significant resistance level at $300, which corresponds to TradingLevel3. This area is critical, as it could mark the completion of this impulsive wave or set up for the next phase in a larger bullish structure. A potential top formation around this level could indicate either the completion of wave 1 or an extended move higher in Primary wave 5.
MCD Elliott Wave technical analysis – One-hour chart
On the 1-hour chart, MCD is progressing in wave (iii) of {v}, with a clear upside momentum as it approaches the key $300 mark once again. The current price action suggests that MCD is likely to continue higher in wave (iii), and a decisive break above $300 would confirm the bullish case, with potential targets towards an All-Time High (ATH).
Technical analyst: Alessio Barretta.
MCD Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.