McDonald's Corp. (MCD) Elliott Wave Analysis - Trading Lounge

MCD Elliott Wave Technical Analysis - Daily Chart

• Function: Trend

• Mode: Impulsive
• Structure: Motive
• Position: Wave 1 of (3)
• Direction: Approaching a top in wave 1
• Details: Expecting a top in minor wave 1, ideally near the previous wave (1) high, followed by a pullback before resuming the uptrend above $300.

MCD Elliott Wave Technical Analysis - 1H Chart

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Wave {iv} of 1
• Direction: Bottoming in wave {iv}
• Details: Wave 1 is subdividing, and we expect another push higher into wave {v} to complete the current uptrend.

McDonald's Corp. (MCD) Market Outlook

This analysis of McDonald's Corp. (MCD) examines both the daily and 1-hour charts using Elliott Wave Theory to assess current market trends and forecast future price movements.

Daily Chart Summary:

MCD is currently in the final stage of impulsive wave 1 of (3). We anticipate a top forming soon in minor wave 1, likely near the previous wave (1) high. After reaching this peak, we expect a pullback before resuming the uptrend, with a target above $300 in subsequent waves.

1-Hour Chart Summary:

On the 1-hour chart, MCD is currently in wave {iv} of 1. A correction is expected to complete, followed by another push higher into wave {v}, signaling the completion of wave 1’s current uptrend. This final movement will confirm minor wave 1’s top.

Technical Analyst : Alessio Barretta

More By This Author:

Elliott Wave Technical Analysis: AAVE Crypto Price News For Friday, Feb 14
Elliott Wave Technical Forecast: Newmont Corporation
Elliott Wave Technical Analysis - CSX Corporation