Using our ElliottWave Indicator suite for the TradingView platform we have put together a long term stocks swingtrading opportunity for QSR on the Weekly timeframe.
The wave 4 profit taking pullback has found support in our Red probability zone, which represents a 75% probability that the price will return to the main bullish trend and hit our automated elliowave...
High Vol. High Beta Stock.
RSI <5 and PA struggling to go below 74.
Looking for Reversal to mean higher.
Taking 72.50 / 70 Put Credit Spread.
Also picked up 75 Call for Directional Bias Higher.
Oct Exp but aiming to Close in profit well before that...
Good Luck - Watch your $$$ RISK
Mc Donalds will soon feel the heat due to the increase in competition among other fast food retailers. I really suggest taking the time out of your day to hear me out and possibly rebuttal my claims.
NYSE:QSR got oversold on the RSI, MACD and Stochastic RSI. Currently bounced back from the 0.786 Fibonacci level on the daily chart.
Entry strategy: wait for the next bullish candle which crosses the 57.10 level.