McDonald’s Corp.: wave analysis 30 May 2019, 09:27

McDonald’s Corp.: wave analysis

30 May 2019, 09:27

Scenario
Timeframe	Weekly
Recommendation	BUY
Entry Point	196.02
Take Profit	207.00, 212.00
Stop Loss	186.70
Key Levels	169.17, 178.12, 186.70, 207.00, 212.00

Alternative scenario
Recommendation	SELL STOP
Entry Point	186.60
Take Profit	178.12, 169.17
Stop Loss	189.50
Key Levels	169.17, 178.12, 186.70, 207.00, 212.00

The price is in a correction and may grow.
On the 4-hour chart, the fifth wave of the higher level 5 of (3) develops, within which the third wave iii of 5 of (3) forms. Now, the third wave of the lower level (iii) of iii of 5 has formed, and a local correction is developing as the wave (iv) of iii. If the assumption is correct, after the end of the correction, the price will grow to the levels of 207.00–212.00. In this scenario, critical stop loss level is 186.70.


Main scenario
Long positions will become relevant after the end of the corrections, above the level of 186.70 with the targets at 207.00–212.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 186.70 will let the price go down to the levels of 178.12–169.17.