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MCD Elliott Wave Analysis Trading LoungeMcDonald’s Corp., () Daily ChartMCD Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave 1 of (1).DIRECTION: Upside 1.DETAILS: Looking at upside thrust after the bottom in a long lasting correction in Primary wave 4.McDonald’s Corp., (MCD)1H ChartMCD Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave {iii} of 1.DIRECTION: Top in wave {iii}.DETAILS: Digging into the subdivision of Minute wave {iii} as we seem to be having further upside to come, which could potentially end as we hit the middle of MinorGroup1 at 320$.This analysis of McDonald’s Corp., (MCD) focuses on both the daily and 1-hour charts, using the Elliott Wave Theory to assess current market trends and forecast future price movements.* MCD Elliott Wave Technical Analysis – Daily Chart*On the daily chart, McDonald’s is currently in Wave 1 of (1), marking the early stages of an impulsive move following the end of a long correction in Primary Wave 4. This correction appears to have bottomed, leading to a strong upside thrust in the new bullish phase. The focus is now on further upside development as the first impulsive wave unfolds.* MCD Elliott Wave Technical Analysis – 1H Chart*On the 1-hour chart, MCD is currently within Wave {iii} of 1, with further upside expected. The subdivision of Minute Wave {iii} indicates that the wave is approaching completion, potentially nearing a top as it reaches the middle of MinorGroup1 at the 320$ level. After this top, a small corrective phase might unfold before further advances within the larger trend.Technical Analyst: Alessio BarrettaMore By This Author:
Elliott Wave Technical Analysis: McDonald’s Corp. – Friday, Oct. 18
