McDonald’s Corp.: wave analysis
03 April 2018, 09:38
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 157.58 |
| Take Profit | 178.72 |
| Stop Loss | 150.55 |
| Key Levels | 136.20, 146.70, 178.72 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 146.60 |
| Take Profit | 136.20 |
| Stop Loss | 150.05 |
| Key Levels | 136.20, 146.70, 178.72 |
The price can grow.
On the 4-hour chart, the development of the downward correction within the fourth wave 4 of the higher level has ended. Locally the formation of the fifth wave has begun, within which the entering momentum of the lower level has formed as a wave (i) of i, and the downward correction (ii) of I is ending. If the assumption is correct, the price will grow to the level of 178.72 and higher. The level of 146.70 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 146.70 with the target at 178.72.
Alternative scenario
The breakdown and the consolidation of the price below the level of 146.70 will let the price go down to the level of 136.20.
On the 4-hour chart, the development of the downward correction within the fourth wave 4 of the higher level has ended. Locally the formation of the fifth wave has begun, within which the entering momentum of the lower level has formed as a wave (i) of i, and the downward correction (ii) of I is ending. If the assumption is correct, the price will grow to the level of 178.72 and higher. The level of 146.70 is critical for this scenario.
Main scenario
Long positions will become relevant during the correction, above the level of 146.70 with the target at 178.72.
Alternative scenario
The breakdown and the consolidation of the price below the level of 146.70 will let the price go down to the level of 136.20.
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