MCDONALD’S CORP.: WAVE ANALYSIS

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MCDONALD’S CORP.: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point282.10
Take Profit314.20, 330.00
Stop Loss274.15
Key Levels260.55, 267.85, 274.15, 314.20, 330.00
Alternative scenario
RecommendationSELL STOP
Entry Point274.10
Take Profit267.85, 260.55
Stop Loss276.20
Key Levels260.55, 267.85, 274.15, 314.20, 330.00

The price is in a correction and may grow.

On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 1 of (5) forms, a downward correction ended as the second wave 2 of (5), and the third wave 3 of (5) forms. Now, the third wave of the lower level iii of 3 has ended, and a local correction is forming as the fourth wave iv of 3. If the assumption is correct, the asset will grow to the area of 314.20–330.00. In this scenario, critical stop loss level is 274.15.

MCDONALD’S CORP.: WAVE ANALYSIS

MCDONALD’S CORP.: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 274.15 with the targets at 314.20–330.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 274.15 will let the asset go down to the area of 267.85–260.55.

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