QSR Potential Long Stocks Swing Trading Idea

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 5th wave target zone now printing in Blue on the chart. The pullback on our Elliottwave Oscillator during the wave 4 is between our 90-140% criteria.

Our False Breakout stochastic indicator shows yellow dots in the overbought zone, denoting strong bullish momentum. then when, during a wave 4 pullback, the stochastic pulls back against those false breakout dots and crosses in the oversold zone, it is highly likely the stochastic will return to the strong overbought zone.

All of these factor using our extensive Elliott Wave Indicator suite represent a high probability long swing trading opportunity on QSR.

We must still, however, be conservative on the entry due to the deep pull back into our red zone. Therefore a long entry at $71.45 is considered safe with a stoploss of 63.65. This still give a risk to reward of 1;1.6 to our automated target zone at $84.

Learn more about our Elliott wave Indicator Suite for the TradingView Platform >>HERE<<