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McDonald’s Corp., Elliot Wave Analysis

12/9/2022 10:19 AM

Growth is possible.

On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 1 of (5) formed, and a downward correction ended as the second wave 2 of (5), shaped as double triple w-x-y. Now, the formation of the third wave 3 of (5) has started, within which the first entry wave of the lower level (i) of i of 3 has formed, and the development of the local correction (ii) of i of 3 is ending. If the assumption is correct, the price will grow to the area of 295.00–314.20. In this scenario, critical stop loss level is 256.15.

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