McDonald’s: In the Trend Channel

McDonald’s is entering another phase of consolidation, with no clear trend emerging for now. We’ve introduced a pink trend channel that closely tracks the development of the ongoing blue five-wave sequence. At this stage, price appears to be moving through wave (v) of this pattern, which should also complete the magenta wave . Afterward, the correction of wave [ii] is pending before the stock is expected to move into impulse wave [iii]. This next move should provide enough upward momentum to push price above the resistance at $326.32. However, if the stock decisively breaks below the support at $283.47, an alternative scenario may come into play. In that case, a pullback toward the low of the green wave alt.[4] would be likely (probability: 35%).