After a long period of bullish appetite, the bears should dig in now. McDonald’s has thoroughly tapped the magenta-colored zone between $291.18 and $287.84 and also touched at the green zone between $294.18 and $290.10, completing wave [c] in magenta as well as wave B in turquoise. Now, the share should drop out of the zone-compound in magenta and green and fall back below the mark at $282.43. Thus, the stock should gain enough downwards momentum to make it below the support at $259.51, where it should finish wave C in turquoise and wave (2) in magenta before turning upwards again. There is a 35% chance, though, for McDonald’s to continue climbing, leaving the green zone on the northern side. In that case, we would consider wave alt.(2) in magenta to be already finished.
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.