SUMMARY
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Yum! Brands is has been a dear bull son of the Motley Fools service and boy did they hit a home run on this since their initial recommendation in the late 1990s. A shareholder from then to now would have gained a 2,077% in profits!! However, the only constant in our universe is change. And price change occurs in a fractal sequence of five waves actionary and three reactionary. The below chart shows that the five wave sequence could be complete or will be anytime!
When including pattern, a noticeable upward bearish wedge is very close to having the price come proximal. For now, I've labeled teh subwaves as having one more higher high left; however, not required because the whole top could already be in. The correction is likely to take and ABC pathway and the retracement could be much deeper than shown; becuase in this case, the correction will be a wave 2 of a higher degree of trend and that can retrace 0.78 Fib level.
The MACD has patterned out a small downward wedge so this could induce a rise to correlate with the one more incremental price rise.
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Elliott Wave Counting Tutorial #1
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