STARBUCKS CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 150.70 |
| Take Profit | 145.00 |
| Stop Loss | 153.00 |
| Key Levels | 145.00, 150.00, 153.00, 159.00, 160.00, 171.00 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 155.00 |
| Take Profit | 159.00 |
| Stop Loss | 153.00 |
| Key Levels | 145.00, 150.00, 153.00, 159.00, 160.00, 171.00 |
Shares of Starbucks Corp., one of the largest companies in the world, which owns the coffee shop chain of the same name, are moving in a corrective trend, trading at 97.00.
On the daily chart, the price is approaching the upper limit of the recently passed downward channel at 95.00.
On the four-hour chart, the price gap of 100.00–91.00 is working out and will close soon. If the quotes consolidate below the local low of 95.00, the asset may return to the channel and continue to decline.
Technical indicators maintain a stable sell signal: fast EMAs on the Alligator indicator move away from the signal line, expanding the range of fluctuations, and the AO histogram forms corrective bars in the sales zone.
Trading tips
Short positions may be opened after the price declines and consolidates below 95.50 with the target at 90.70. Stop loss – 97.00. Implementation period: 7 days or more.
Long positions may be opened after the price rises and consolidates above 98.60 with the target at 103.50. Stop loss – 96.00.
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