McDonald’s Corp.: wave analysis 04 December 2018, 08:44

McDonald’s Corp.: wave analysis

04 December 2018, 08:44

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	185.39
Take Profit	195.00, 200.13
Stop Loss	180.62
Key Levels	165.18, 174.09, 180.62, 195.00, 200.13

Alternative scenario
Recommendation	SELL STOP
Entry Point	180.55
Take Profit	174.09, 165.18
Stop Loss	182.70
Key Levels	165.18, 174.09, 180.62, 195.00, 200.13

The price may grow.
On the 4-hour chart, the fifth wave 5 develops within the third wave of the higher level (3). Locally the third wave of the lower level iii of 5 has formed, and the local correction iv of 5 is developing. If the assumption is correct, after the end of the correction the price will grow to the levels of 195.00–200.13. In this scenario, the critical stop loss level is 180.62.


Main scenario
Long positions will become relevant during the correction, above the level of 180.62 with the targets at 195.00–200.13. Implementation period: 7 days and more.
Alternative scenario
The breakdown and the consolidation of the price below the level of 180.62 will let the price go down to the levels of 174.09–165.18.