Image Source: Pexels
 

We discussed McDonald's back on November 11 of 2025, where we mentioned and highlighted that it's looking for the final leg up into new all-time highs within subwave C of (5) of a larger wedge pattern. 

McDonald’s (MCD) is once again pushing higher, now trading above the March 2025 highs — a key technical milestone that suggests the bullish trend remains intact. This breakout strongly supports the idea that the Wave B triangle has likely completed, and price is now potentially in the early phases of Wave C within Wave 5 — traditionally the last push higher in a classic Elliott Wave sequence.

MCD Daily Chart
 

While the uptrend looks constructive, traders should remain aware that markets often slow or reverse as larger patterns mature. There’s a meaningful risk that upside momentum could become constrained in the coming weeks as the structure begins to resemble a higher-degree ending diagonal, a pattern that often signals a trend’s final stage before exhaustion.
 

Technical Outlook

• Bullish breakout confirmed: Price clearing the March 2025 highs supports continuation of the uptrend.
• Wave B triangle likely complete: Opens the path for new highs within Wave C of Wave 5.
• Upside Target: A logical projection remains near the 340 area, aligned with recent analyst price targets from Wall Street which cluster around similar zones.
• Risk Consideration: The pattern shape and characteristics are consistent with an ending diagonal, which increases the chance of limited further upside and a potential reversal into correction.
   

Catalysts & Broader Market Context

• Numerous large brokerage analysts have raised 12-month price targets near or above $340, with some even higher, reflecting ongoing confidence in McDonald’s earnings growth and operational rebound.
• Fundamental drivers, including value-oriented menu strategies and strong global footprint, have bolstered investor sentiment and supported technical continuation.

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