McDonald’s Corp.: wave analysis
12 December 2019, 08:38
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 194.62 |
| Take Profit | 180.00, 170.20 |
| Stop Loss | 197.64 |
| Key Levels | 121.36, 221.85, 170.20, 180.00, 197.64 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 197.70 |
| Take Profit | 210.36, 221.85 |
| Stop Loss | 193.45 |
| Key Levels | 121.36, 221.85, 170.20, 180.00, 197.64 |
The price is in a correction, a fall is possible.
On the 4-hour chart, the third wave of the higher level (3) developed, and a downward correction started to form as the fourth wave (4). Now, a downward momentum is developing as the wave a of (4), within which the local correction (iv) of a has ended. If the assumption is correct, the price will fall to the levels of 180.00–170.20. In this scenario, critical stop loss level is 197.64.
Main scenario
Short positions will become relevant during the correction, below the level of 197.64 with the targets at 180.00–170.20. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 197.64 will let the price grow to the levels of 210.36–221.85.
On the 4-hour chart, the third wave of the higher level (3) developed, and a downward correction started to form as the fourth wave (4). Now, a downward momentum is developing as the wave a of (4), within which the local correction (iv) of a has ended. If the assumption is correct, the price will fall to the levels of 180.00–170.20. In this scenario, critical stop loss level is 197.64.
Main scenario
Short positions will become relevant during the correction, below the level of 197.64 with the targets at 180.00–170.20. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price above the level of 197.64 will let the price grow to the levels of 210.36–221.85.
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