McDonald’s Corp.: wave analysis
08 August 2019, 09:25
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 216.81 |
| Take Profit | 225.00, 230.00 |
| Stop Loss | 209.19 |
| Key Levels | 196.02, 201.38, 209.19, 225.00, 230.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 209.10 |
| Take Profit | 201.38, 196.02 |
| Stop Loss | 211.70 |
| Key Levels | 196.02, 201.38, 209.19, 225.00, 230.00 |
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, a local correction has developed as the wave (iv) of iii, and the formation of the wave (v) of iii has begun. If the assumption is correct, the price will grow to the levels of 225.00–230.00. In this scenario, critical stop loss level is 209.19.
Main scenario
Long positions will become relevant during the correction, above the level of 209.19 with the targets at 225.00–230.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 209.19 will let the price go down to the levels of 201.38–196.02.
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 formation of the wave (v) of iii has begun. If the assumption is correct, the price will grow to the levels of 225.00–230.00. In this scenario, critical stop loss level is 209.19.
Main scenario
Long positions will become relevant during the correction, above the level of 209.19 with the targets at 225.00–230.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 209.19 will let the price go down to the levels of 201.38–196.02.
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