Details: We are looking for a top in wave 1 of (1) or what could also easily be wave (1) of Primary 5 as we have been trading around TradingLevel3 at 300$.

McDonald’s Corp., (MCD) 1H Chart

MCD Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (iii) of {v}.

Direction: Upside in wave (iii).

Details: Looking for upside into wave (iii) as we approach once again 300$. Ideally looking for a classic trading level around 300$ to then confirm the long position towards ATH.

This analysis of McDonald’s Corp., (MCD) focuses on both the daily and 1-hour charts, using the Elliott Wave Theory to assess current market trends and forecast future price movements.

MCD Elliott Wave technical analysis – Daily chart

MCD is advancing within wave {v} of wave 1 (or potentially wave (1) of Primary 5), as it trades around the significant resistance level at $300, which corresponds to TradingLevel3. This area is critical, as it could mark the completion of this impulsive wave or set up for the next phase in a larger bullish structure. A potential top formation around this level could indicate either the completion of wave 1 or an extended move higher in Primary wave 5.

MCD Elliott Wave technical analysis – One-hour chart

On the 1-hour chart, MCD is progressing in wave (iii) of {v}, with a clear upside momentum as it approaches the key $300 mark once again. The current price action suggests that MCD is likely to continue higher in wave (iii), and a decisive break above $300 would confirm the bullish case, with potential targets towards an All-Time High (ATH).

Technical analyst: Alessio Barretta.

MCD Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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