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MCD Elliott Wave Analysis Trading Lounge Daily Chart,McDonald’s Corp., (MCD) Daily Chart MCD Elliott Wave Technical AnalysisFUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave 1 of (1). DIRECTION: Upside into wave 1. DETAILS: Looking for a top in wave 1 or (1) of Primary wave 5. We could be facing resistance on TL3 at 300$, where we could expect the pullback in wave 2 or (2).
MCD Elliott Wave Analysis Trading Lounge 1H Chart,McDonald’s Corp., (MCD) 1H Chart MCD Elliott Wave Technical AnalysisFUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {v} of 1. DIRECTION: Upside in wave {v}. DETAILS: We can see a nice wave {v} subdivision and we seem to be missing at least another leg higher which could take us up to 300$, as volume also seems to be confirming.
Welcome to our latest Elliott Wave analysis for McDonald’s Corp. (MCD). This analysis provides a detailed examination of MCD’s price action through the lens of Elliott Wave Theory, guiding traders toward potential trading opportunities based on current trends and market structure. We’ll analyze both the daily and 1-hour charts to provide a comprehensive view of MCD’s market behavior. * MCD Elliott Wave Technical Analysis – Daily Chart* MCD is currently advancing in wave 1 or (1) of the larger Primary wave 5. The price action suggests that we are approaching a potential top for this wave, with the $300 level (TL3) acting as a significant resistance. As we near this resistance, there is a possibility of encountering a pullback as wave 2 or (2) begins to unfold. Traders should be aware of this potential reversal point and prepare for a possible corrective phase. * MCD Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, we can observe a clear subdivision within wave {v} of 1, which suggests that the current uptrend is not yet complete. At least one more leg higher is expected, potentially driving the price up to the $300 level. The volume patterns also support this outlook, indicating continued buying interest that could push the price towards the $300 target before a correction sets in.Technical Analyst : Alessio BarrettaMore By This Author:Unlocking ASX Trading Success: National Australia Bank Limited – Friday, Aug. 23
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