McDonald’s Corp.: wave analysis
05 December 2019, 09:58
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 194.40 |
| Take Profit | 210.74, 221.85 |
| Stop Loss | 191.28 |
| Key Levels | 154.22, 170.20, 191.28, 210.74, 221.85 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 191.20 |
| Take Profit | 170.20, 154.22 |
| Stop Loss | 198.20 |
| Key Levels | 154.22, 170.20, 191.28, 210.74, 221.85 |
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) formed. Now, a downward correction has developed as the fourth wave iv of 5, and the formation of the wave v of 5 is starting. If the assumption is correct, the price will grow to the levels of 210.74–221.85. In this scenario, critical stop loss level is 191.28.
Main scenario
Long positions will become relevant during the correction, above the level of 191.28 with the targets at 210.74–221.85. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 191.28 will let the price go down to the levels of 170.20–154.22.
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) formed. Now, a downward correction has developed as the fourth wave iv of 5, and the formation of the wave v of 5 is starting. If the assumption is correct, the price will grow to the levels of 210.74–221.85. In this scenario, critical stop loss level is 191.28.
Main scenario
Long positions will become relevant during the correction, above the level of 191.28 with the targets at 210.74–221.85. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 191.28 will let the price go down to the levels of 170.20–154.22.
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