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:
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:
Technical Analyst: Alessio Barretta
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