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McDonald’s Corp.(MCD) Elliott Wave Technical Analysis 13 March 24


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MCD Elliott Wave Analysis Trading Lounge Daily Chart, 13 March 24

McDonald’s Corp., (MCD) Daily Chart

MCD Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective  

STRUCTURE: Flat

POSITION: Wave (2) of 3.  

DIRECTION: Downside into wave C of (2).  

DETAILS: After breaking ATH at 300$, we’ve seen a pullback which appears to be bullish corrective. We are therefore looking for continuation higher once the pullback is complete.

 

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MCD Elliott Wave Analysis Trading Lounge 4Hr Chart, 13 March 24

McDonald’s Corp., (MCD) 4Hr Chart

MCD Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective  

STRUCTURE: Flat

POSITION: Wave C of (2).

DIRECTION: Wave {iii} of C.  

DETAILS: Looking for downside into wave {iii} as we need complete wave C. We could also see a sideways wave B before resuming lower.

 

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Welcome to our MCD Elliott Wave Analysis Trading Lounge, your trusted destination for in-depth insights into McDonald’s Corp. (MCD) using Elliott Wave Technical Analysis. Let's delve into the market dynamics as of the Daily Chart on 13 March 24.

* XOM Elliott Wave Technical Analysis – Daily Chart*

In our analysis, we identify a counter trend function characterized by corrective mode and a flat structure. Positioned in Wave (2) of 3, our attention is on the downside movement into wave C of (2). Despite breaking the all-time high (ATH) at $300, we've witnessed a pullback that appears to be part of a bullish corrective pattern. Consequently, we anticipate a continuation higher once the pullback completes its course.

*XOM Elliott Wave Technical Analysis – 4Hr Chart*

Here, we also observe a counter trend function marked by corrective mode and a flat structure. Positioned in Wave C of (2), our focus is on wave {iii} of C, anticipating downside movement to complete wave C. Additionally, we may see a sideways wave B before the downward trajectory resumes.

 

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