McDonald's Corp. (MCD) Elliott Wave technical analysis [Video]

MCD Elliott Wave technical analysis

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave 3 of (3).

• 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 

• Function: Trend.

• Mode: Impulsive.

• Structure: Motive.

• Position: Wave (v) of {i}.

• 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]