McDonald’s Corp. (MCD) Elliott Wave Analysis – Trading Lounge Daily Chart

MCD Elliott Wave Technical Analysis – Daily Chart

• 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 – 1H Chart

• 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.

Technical Analyst: Alessio Barretta

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