McDonald’s Corp.: wave analysis
04 July 2019, 09:24
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 212.69 |
| Take Profit | 218.00, 225.00 |
| Stop Loss | 210.90 |
| Key Levels | 186.00, 190.00, 203.58, 218.00, 225.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 203.50 |
| Take Profit | 190.00, 186.00 |
| Stop Loss | 208.00 |
| Key Levels | 186.00, 190.00, 203.58, 218.00, 225.00 |
The trend is upward.
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, a local correction has developed as the wave (iv) of iii, and the wave (v) of iii is forming. If the assumption is correct, the price will grow to the levels of 218.00–225.00. In this scenario, critical stop loss level is 203.58.
Main scenario
Long positions will become relevant during the correction, above the level of 203.58 with the targets at 218.00–225.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 203.58 will let the price go down to the levels of 190.00–186.00.
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, a local correction has developed as the wave (iv) of iii, and the wave (v) of iii is forming. If the assumption is correct, the price will grow to the levels of 218.00–225.00. In this scenario, critical stop loss level is 203.58.
Main scenario
Long positions will become relevant during the correction, above the level of 203.58 with the targets at 218.00–225.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 203.58 will let the price go down to the levels of 190.00–186.00.
No comments:
Write comments