McDonald’s Corp.: wave analysis 08 May 2018, 09:36

McDonald’s Corp.: wave analysis

08 May 2018, 09:36

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	165.03
Take Profit	178.80
Stop Loss	154.72
Key Levels	146.40, 154.72, 178.80

Alternative scenario
Recommendation	SELL STOP
Entry Point	154.65
Take Profit	146.40
Stop Loss	157.40
Key Levels	146.40, 154.72, 178.80

The price can grow.
On the 4-hour chart, the development of the downward correction as a fourth wave 4 of the higher level has ended. Locally the formation of the fifth wave has begun, within which the development of the first wave of the lower level i of 5 as a wedge is ending. If the assumption is correct, after the end of the correction ii of 5 the price will grow to the level of 178.80. The level of 154.72 is critical and stop-loss for this scenario.


Main scenario
Long positions will become relevant during the correction, above the level of 154.72 with the target at 178.80. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 154.72 will let the price go down to the level of 146.40.