MCD Elliott Wave technical analysis
Function: Trend
Mode: Impulsive
Structuue: Motive
Position: Wave {iii} of 1.
Direction: Upside into wave 1.
Details: Looking for a five wave move completion within wave 1 as we are now approaching TradingLevel3 at 300$.
MCD Elliott Wave technical analysis – Daily chart
In the daily chart, McDonald's is showing a clear impulsive trend, currently progressing within Wave {iii} of 1. This suggests the stock is in the midst of a strong upside move. As the price approaches the critical level at $300, known as TradingLevel3 (TL3), we are looking for the completion of a five-wave move within this initial wave 1.
MCD Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Strucutre: Motive.
Position: Wave i of (v).
Direction: Looking for upside into wave (v).
Details: Looking for upside into wave (v) as we seem to have a flat in wave (iv) and we found support on top of the end of Minor Group 2 at 280$.
MCD Elliott Wave technical analysis – One-hour chart
On the 1-hour chart, MCD appears to be progressing within Wave i of (v), signaling that we are likely entering the final leg of the current impulsive sequence. The recent Wave (iv) formed a flat corrective structure, and the stock found key support around $280, which corresponds to the end of MinorGroup2.
In this Elliott Wave analysis of McDonald’s Corp. (MCD), we assess its current price action and wave structure using Elliott Wave Theory to help identify trading opportunities. Both the daily and 1-hour charts are examined to provide a comprehensive outlook for traders.
McDonald’s Corp. (MCD) Elliott Wave technical analysis
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD treads water just above 1.0400 post-US data
Another sign of the good health of the US economy came in response to firm flash US Manufacturing and Services PMIs, which in turn reinforced further the already strong performance of the US Dollar, relegating EUR/USD to the 1.0400 neighbourhood on Friday.
GBP/USD remains depressed near 1.2520 on stronger Dollar
Poor results from the UK docket kept the British pound on the back foot on Thursday, hovering around the low-1.2500s in a context of generalized weakness in the risk-linked galaxy vs. another outstanding day in the Greenback.
Gold keeps the bid bias unchanged near $2,700
Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.
Geopolitics back on the radar
Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.