McDonald’s Corp. (MCD) Stock Analysis

This analysis examines McDonald’s Corp. (MCD) by focusing on both the daily and 1-hour charts, using the Elliott Wave Theory to evaluate market trends and project future price movements.

MCD Elliott Wave Analysis: Trading Lounge Daily Chart

MCD Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave {v} of 1

Direction: Upside in Wave {v}

Details: MCD is advancing in Wave {v} of Wave 1 (or potentially Wave (1) of Primary 5) as the price consolidates near the critical $300 resistance level. This level, identified as TradingLevel3, is significant for confirming the structure of the current impulsive wave. A top formation around this area could either signal the end of Wave 1 or suggest an extended bullish move in Primary Wave 5.

Key Takeaways for the Daily Chart:

• Resistance Zone: $300 (TradingLevel3).

• Potential Scenarios: Completion of Wave 1 or continuation within Primary Wave 5.

MCD Elliott Wave Technical Analysis: TradingLounge 1-Hour Chart

McDonald’s Corp. Elliott Wave Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave (iii) of {v}

Direction: Upside in Wave (iii)

Details: On the 1-hour chart, MCD is moving higher within Wave (iii) of {v}, supported by clear upward momentum. The stock is approaching the key $300 trading level, and a sustained move above this point would validate the bullish case. Once confirmed, the price could aim for All-Time Highs (ATH), reinforcing the extended impulsive structure.

Key Takeaways for the 1-Hour Chart:

• Critical Level: $300 for confirmation.

• Targets: Higher levels towards ATH if $300 is decisively broken.

Technical Analyst: Alessio Barretta

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: PayPal Holdings Inc. Elliott Wave Technical Analysis 

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