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

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.

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.

MCD Elliott Wave technical analysis - One-hour 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.

One-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.

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.

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