MCDONALD’S CORP.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 268.60 |
| Take Profit | 315.00, 330.00 |
| Stop Loss | 245.00 |
| Key Levels | 217.30, 229.70, 245.00, 315.00, 330.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 244.95 |
| Take Profit | 229.70, 217.30 |
| Stop Loss | 250.05 |
| Key Levels | 217.30, 229.70, 245.00, 315.00, 330.00 |
Growth is possible.
On the daily chart, the third wave of the higher level 3 develops, within which the wave (5) of 3 forms. Now, the third wave of the lower level 3 of (5) has formed, the correctional wave 4 of (5) has ended, and the wave 5 of (5) is developing, within which the wave i of 5 has ended, and a local correction has formed as the wave ii of 5. If the assumption is correct, the asset will grow within the wave iii of 5 to the area of 315.00–330.00. In this scenario, critical stop loss level is 245.00.
Main scenario
Long positions will become relevant above the level of 245.00 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 245.00 will let the asset go down to the area of 229.70–217.30.
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