McDonald’s Corp.: wave analysis
22 May 2018, 10:13
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 161.44 |
| Take Profit | 157.40, 154.90 |
| Stop Loss | 165.93 |
| Key Levels | 154.90, 157.40, 165.93, 178.80 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 166.00 |
| Take Profit | 178.80 |
| Stop Loss | 161.75 |
| Key Levels | 154.90, 157.40, 165.93, 178.80 |
The price can decrease.
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 first wave of the lower level i of 5 has formed as a wedge, and the downward correction ii of 5 is developing. If the assumption is correct, the price will fall to the levels of 157.40–154.90. The level of 165.93 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant below the level of 165.93 with the targets at 157.40–154.90. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 165.93 will let the price grow to the level of 178.80.
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 first wave of the lower level i of 5 has formed as a wedge, and the downward correction ii of 5 is developing. If the assumption is correct, the price will fall to the levels of 157.40–154.90. The level of 165.93 is critical and stop-loss for this scenario.
Main scenario
Short positions will become relevant below the level of 165.93 with the targets at 157.40–154.90. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 165.93 will let the price grow to the level of 178.80.
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