McDonald’s Corp.(MCD) Elliott Wave technical analysis [Video]

MCD Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave 1.

Direction: Completion in wave 1.

Details: Looking for MG1 of 300$ as upside target where we could potentially we a top in wave 1.

MCD Elliott Wave technical analysis – Daily chart

On the daily chart, McDonald’s is progressing through Wave 1 of a new impulsive move. The focus is on the completion of this wave, with Minor Group 1 (MG1) at $300 serving as the primary upside target. This level could potentially mark the top of Wave 1 as we approach a significant psychological and technical resistance level.

Traders should watch for any signs of exhaustion as the price nears $300, indicating a potential corrective phase could begin once Wave 1 tops out.

The shorter-term view supports an ongoing bullish move, with price pushing toward the $300 target. Once Wave (v)completes, traders should anticipate the possibility of a correction, marking the end of Wave 1.

MCD Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {v} of 1.

Direction: Looking upside within {v}.

Details: Looking for a bit of a different approach than what is present din the daily chart. Looking for upside within wave (v) of {v} to be unfolding.

MCD Elliott Wave technical analysis – One-hour chart

On the 1-hour chart, McDonald’s is progressing within Wave {v} of 1, and the current wave structure suggests we are unfolding in the final leg—Wave (v) of {v}. This differs slightly from the daily chart but complements the broader trend, indicating that further upside is still expected before Wave 1 completes.

 

In this Elliott Wave analysis for McDonald’s Corp. (MCD), we will examine the trend structure across both the daily and 1-hour charts to assess the current wave progression and potential price targets.

McDonald’s Corp.(MCD) Elliott Wave technical analysis [Video]