McDonald’s Corp.: wave analysis
20 June 2019, 09:43
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 204.71 |
| Take Profit | 212.00, 216.00 |
| Stop Loss | 197.70 |
| Key Levels | 178.12, 185.18, 194.47, 212.00, 216.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 194.40 |
| Take Profit | 185.18, 178.12 |
| Stop Loss | 197.50 |
| Key Levels | 178.12, 185.18, 194.47, 212.00, 216.00 |
The price 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 212.00–216.00. In this scenario, critical stop loss level is 194.47.
Main scenario
Long positions will become relevant during the correction, above the level of 194.47 with the targets at 212.00–216.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 194.47 will let the price go down to the levels of 185.18–178.12.
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 212.00–216.00. In this scenario, critical stop loss level is 194.47.
Main scenario
Long positions will become relevant during the correction, above the level of 194.47 with the targets at 212.00–216.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 194.47 will let the price go down to the levels of 185.18–178.12.
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