McDonald’s Corp.: wave analysis 14 August 2018, 10:17

McDonald’s Corp.: wave analysis

14 August 2018, 10:17

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	158.11
Take Profit	171.46
Stop Loss	152.94
Key Levels	144.34, 152.94, 171.46

Alternative scenario
Recommendation	SELL STOP
Entry Point	152.90
Take Profit	144.34
Stop Loss	155.75
Key Levels	144.34, 152.94, 171.46

The price is in correction and can grow.
On the 4-hour chart, the downward correction of the higher level develops as a fourth wave 4, taking a shake of a triangle. Locally the wave c of 4 has developed, and the formation of the wave d of 4 begins. If the assumption is correct, the price will grow to the level of 171.46. The level of 152.94 is critical and stop loss for this scenario.


Main scenario
Long positions will become relevant during the correction, above the level of 152.94 with the target at 171.46. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 152.94 will let the price go down to the level of 144.34.