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MCD Elliott Wave Analysis Trading Lounge Daily Chart,

McDonald’s Corp., (MCD) Daily Chart

MCD Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Flat

POSITION: Intermediate (C)

DIRECTION: Bottom in wave (2).  

DETAILS: We are looking at a potential bottom in wave C of (2) as volume also seems to be suggesting. In order to turn bullish again we could need to start finding support on TL3 at 300$.

MCD Elliott Wave Analysis Trading Lounge 4H Chart,

McDonald’s Corp., (MCD) 4H Chart

MCD Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Flat

POSITION: Wave {v} of C.  

DIRECTION: Bottom in wave C.

DETAILS: We can identify a five wave move to the downside into what could be the end of wave C. We are also seeing support on top of 1.618 C vs. A.

Welcome to our MCD Elliott Wave Analysis Trading Lounge, where we analyze McDonald’s Corp. (MCD) using Elliott Wave Technical Analysis. Let's delve into the market dynamics on the Daily Chart as of April 11, 2024.

* MCD Elliott Wave Technical Analysis – Daily Chart*

Our analysis reveals a counter trend function characterized by corrective mode and flat structure, positioned in Intermediate (C). The direction indicates a potential bottom in wave (2). We observe volume patterns suggesting a reversal. To regain a bullish outlook, we may require to establish support around TL3 at $300.

* MCD Elliott Wave Technical Analysis – 4Hr Chart*

Here, we identify a counter trend function marked by corrective mode and flat structure, positioned in Wave {v} of C. The direction suggests a potential bottom in wave C. We observe a five-wave move to the downside, possibly indicating the completion of wave C. Additionally, there is support observed above 1.618 C vs. A.

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