McDonald’s Corp.(MCD:NYSE) Elliott Wave Technical Analysis 22 January 24

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McDonald’s Corp., Elliott Wave Technical Analysis

McDonald’s Corp., (MCD:NYSE): 4h Chart 22 January 24

MCD Stock Market Analysis: Moving higher as expected after the triangle. As we have now broke previous ATH and we are trading around Major Level 300$, we should be mindful of potential downside anytime.  

MCD Elliott Wave Count: Wave {i} of 5.  

MCD Technical Indicators: Above all averages.

MCD Trading Strategy: Looking for longs on a pullback in wave {ii}.

TradingLounge Analyst: Alessio Barretta

 

 

 

 

 

McDonald’s Corp., MCD: 1-hour Chart 22 January 24

McDonald’s Corp.,Elliott Wave Technical Analysis MCD Stock Market Analysis: Looking for a potential top in wave {i}, which could also be wave 5 as we approach 0.618 5 vs. 1. Ideal target stands at equality of 5 vs. 1. We can start to look for longs if we find support on the 300 and see a CTLP.  

MCD Elliott Wave count:  Wave {i} of 5.  

MCD Technical Indicators: Above all averages.

MCD Trading Strategy: Looking for longs on a pullback in wave {ii}.