MCD Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave 1 of (1).
Direction: Upside into wave 1.
Details: Looking for a top in wave 1 or (1) of Primary wave 5. We could be facing resistance on TL3 at 300$, where we could expect the pullback in wave 2 or (2).
MCD Elliott Wave technical analysis – Daily chart
MCD is currently advancing in wave 1 or (1) of the larger Primary wave 5. The price action suggests that we are approaching a potential top for this wave, with the $300 level (TL3) acting as a significant resistance. As we near this resistance, there is a possibility of encountering a pullback as wave 2 or (2) begins to unfold. Traders should be aware of this potential reversal point and prepare for a possible corrective phase.
MCD Elliott Wave technical analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {v} of 1.
Direction: Upside in wave {v}.
Details: We can see a nice wave {v} subdivision and we seem to be missing at least another leg higher which could take us up to 300$, as volume also seems to be confirming.
MCD Elliott Wave technical analysis – One-hour chart
On the 1-hour chart, we can observe a clear subdivision within wave {v} of 1, which suggests that the current uptrend is not yet complete. At least one more leg higher is expected, potentially driving the price up to the $300 level. The volume patterns also support this outlook, indicating continued buying interest that could push the price towards the $300 target before a correction sets in.
Welcome to our latest Elliott Wave analysis for McDonald’s Corp. (MCD). This analysis provides a detailed examination of MCD's price action through the lens of Elliott Wave Theory, guiding traders toward potential trading opportunities based on current trends and market structure. We'll analyze both the daily and 1-hour charts to provide a comprehensive view of MCD's market behavior.
McDonald’s Corp.(MCD) Elliott Wave technical analysis [Video]
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 hovers around 1.0800 on Fed's decision
EUR/USD returned to the 1.0800 price zone after the Federal Reserve announced its decision to cut the benchmark interest rate by 25 bps as widely anticipated. Chair Jerome Powell's remarks put mild pressure on the US Dollar.
USD/JPY retreats from weekly highs as FOMC delivers 25 bps rate trim
USD/JPY hovers around 153.80 after the Fed broadly met market expectations on November's rate call. The Fed delivered a follow-up quarter-point cut on Thursday; markets now bet on the odds of a December three-peat.
Gold regains $2,700 with Fed’s announcement
Gold extends its recovery following Wednesday's sharp decline and trades above $2,700, as the US Dollar eases following the Federal Reserve's decision to cut rates by 25 bps. Powell's speech revolved around Trump's victory.
Ethereum Price Forecast: ETH eyes $3,366 as open interest growth could fuel quest for new all-time high
Ethereum (ETH) is up nearly 8% on Thursday and could reach a new all-time high before year-end following increasing investor demand for the top altcoin. This is visible in ETH's open interest growth and increasing Ethereum exchange-traded funds (ETF) inflows.
Outlook for the markets under Trump 2.0
On November 5, the United States held presidential elections. Republican and former president Donald Trump won the elections surprisingly clearly. The Electoral College, which in fact elects the president, will meet on December 17, while the inauguration is scheduled for January 20, 2025.
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.