McDonald’s Corp.: wave analysis
15 September 2017, 08:50
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 156.87 |
| Take Profit | 149.50, 142.00 |
| Stop Loss | 159.35 |
| Key Levels | 142.00, 149.50, 161.54, 170.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 161.60 |
| Take Profit | 170.00 |
| Stop Loss | 158.80 |
| Key Levels | 142.00, 149.50, 161.54, 170.00 |
The fall of the price is expected.
The development of the upward momentum within the third wave 3 of the higher level has ended. Locally the formation of the downward correction as a fourth wave 4 has begun. If the assumption is correct, the price will fall to the levels of 149.50–142.00. The level of 161.54 is critical for this scenario.
Main scenario
Short positions can be opened during the correction, below the level of 161.54 with the targets at 149.50–142.00
Alternative scenario
The breakout and the consolidation of the price above the level of 161.54 will let the price grow to the level of 170.00.
The development of the upward momentum within the third wave 3 of the higher level has ended. Locally the formation of the downward correction as a fourth wave 4 has begun. If the assumption is correct, the price will fall to the levels of 149.50–142.00. The level of 161.54 is critical for this scenario.
Main scenario
Short positions can be opened during the correction, below the level of 161.54 with the targets at 149.50–142.00
Alternative scenario
The breakout and the consolidation of the price above the level of 161.54 will let the price grow to the level of 170.00.
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