MCDONALD’S CORP.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 281.79 |
| Take Profit | 315.00, 330.00 |
| Stop Loss | 273.06 |
| Key Levels | 243.20, 257.55, 273.06, 315.00, 330.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 273.05 |
| Take Profit | 257.55, 243.20 |
| Stop Loss | 278.25 |
| Key Levels | 243.20, 257.55, 273.06, 315.00, 330.00 |
The price is in a correction and may grow.
On the daily chart, the third wave of the higher level 3 forms, within which the wave (5) of 3 develops. Now, the third wave of the lower level 3 of (5) has formed, the correctional wave 4 of (5) has ended, and of the wave 5 of (5) is developing, within which the wave i of 5 has formed, and a local correction is ending as the wave ii of 5. If the assumption is correct, the asset will grow to the area of 315.00–330.00. In this scenario, critical stop loss level is 273.06.
Main scenario
Long positions will become relevant above the level of 273.06 with the targets at 315.00–330.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 273.06 will let the asset go down to the area of 257.55–243.20.
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