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MCD Elliott Wave Analysis Trading Lounge Daily Chart, 13 March 2024

McDonald’s Corp., (MCD) Daily Chart

MCD Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective  

STRUCTURE: Flat

POSITION: Wave (2) of 3.  

DIRECTION: Downside into wave C of (2).  

DETAILS: After breaking ATH at 300$, we’ve seen a pullback which appears to be bullish corrective. We are therefore looking for continuation higher once the pullback is complete.

MCD Elliott Wave Analysis Trading Lounge 4Hr Chart, 13 March 2024

McDonald’s Corp., (MCD) 4Hr Chart

MCD Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective  

STRUCTURE: Flat

POSITION: Wave C of (2).

DIRECTION: Wave {iii} of C.  

DETAILS: Looking for downside into wave {iii} as we need complete wave C. We could also see a sideways wave B before resuming lower.

Welcome to our MCD Elliott Wave Analysis Trading Lounge, your trusted destination for in-depth insights into McDonald’s Corp. (MCD) using Elliott Wave Technical Analysis. Let's delve into the market dynamics as of the Daily Chart on 13 March 24.

* MCD Elliott Wave Technical Analysis – Daily Chart*

In our analysis, we identify a counter trend function characterized by corrective mode and a flat structure. Positioned in Wave (2) of 3, our attention is on the downside movement into wave C of (2). Despite breaking the all-time high (ATH) at $300, we've witnessed a pullback that appears to be part of a bullish corrective pattern. Consequently, we anticipate a continuation higher once the pullback completes its course.

*MCD Elliott Wave Technical Analysis – 4Hr Chart*

Here, we also observe a counter trend function marked by corrective mode and a flat structure. Positioned in Wave C of (2), our focus is on wave {iii} of C, anticipating downside movement to complete wave C. Additionally, we may see a sideways wave B before the downward trajectory resumes.

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