McDonald’s: No Happy Meal For You (Technical Analysis)

Summary:

• The structure of price is suggesting a potential major high and possible bearish setup now.
• Our methodology provides context by analyzing fractal market structures, aligning smaller and larger trends to predict market movements in stocks like MCD.
• Current price action suggests a possible long-term top, with important support at $270; a break below better confirms a prolonged bearish phase.
• Markets are emotional and irrational; our probabilistic approach offers primary and alternative perspectives to navigate market dynamics effectively.

By Levi at Elliott Wave Trader; Produced with Avi Gilburt

Since this issue first arrived on the stock market scene back in 1968 it has been mostly ‘up’ with a pair of principal pullbacks. One was completed in 1974

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Short position through short-selling of the stock, or purchase of put options or similar derivatives in MCD over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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