McDonald’s Corp.: wave analysis
29 May 2018, 10:37
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 163.21 |
| Take Profit | 178.80 |
| Stop Loss | 159.00 |
| Key Levels | 154.90, 157.40, 159.00, 178.80 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 158.90 |
| Take Profit | 157.40, 154.90 |
| Stop Loss | 159.50 |
| Key Levels | 154.90, 157.40, 159.00, 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 first wave of the lower level i of 5 has formed as a wedge, and the downward correction ii of 5 has ended. If the assumption is correct, the price will grow to the level of 178.80. The level of 159.00 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant above the level of 159.00 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 159.00 will let the price go down to the levels of 157.40–154.90.
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 has ended. If the assumption is correct, the price will grow to the level of 178.80. The level of 159.00 is critical and stop loss for this scenario.
Main scenario
Long positions will become relevant above the level of 159.00 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 159.00 will let the price go down to the levels of 157.40–154.90.
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