McDonald’s Corp.: wave analysis
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 304.04 |
| Take Profit | 330.00, 350.00 |
| Stop Loss | 295.40 |
| Key Levels | 215.00, 243.80, 268.57, 330.00, 350.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 268.55 |
| Take Profit | 243.80, 215.00 |
| Stop Loss | 276.80 |
| Key Levels | 215.00, 243.80, 268.57, 330.00, 350.00 |
Growth is possible.
On the weekly chart, the third wave of the higher level 3 forms, within which the wave (5) of 3 develops. Now, the fifth wave of the lower level 5 of (5) is forming, within which the wave i of 5 has formed. If the assumption is correct, after the correction as the wave ii of 5 the asset will grow to the area of 330.00–350.00. In this scenario, critical stop loss level is 268.57.
Main scenario
Long positions will become relevant above the level of 268.57 with the targets at 330.00–350.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 268.57 will let the asset go down to the area of 243.80–215.00.
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