McDonald’s Corp.: wave analysis

The price may grow.

On the 4-hour chart, a downward correction of the higher level formed as the fourth wave (4), and the development of the fifth wave (5) started. Now, the third wave 3 of (5) is developing, within which the fifth wave of the lower level v of 3 is forming. If the assumption is correct, the price will grow to the levels of 235.00–250.00. In this scenario, critical stop loss level is 210.34.

Main scenario

Long positions will become relevant during the correction, above the level of 210.34 with the targets at 235.00–250.00. Implementation period: 7 days and more.

Alternative scenario

The breakdown and the consolidation of the price below the level of 210.34 will let the price go down to the levels of 191.83–178.84.