STARBUCKS CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 96.80 |
| Take Profit | 104.00 |
| Stop Loss | 93.00 |
| Key Levels | 77.00, 84.70, 90.90, 95.00, 96.80, 98.50, 99.00, 104.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 92.80 |
| Take Profit | 84.70 |
| Stop Loss | 96.00 |
| Key Levels | 77.00, 84.70, 90.90, 95.00, 96.80, 98.50, 99.00, 104.00 |
The shares of Starbucks Corp., one of the largest companies that owns the coffee shop chain of the same name, are trading at 95.00.
On the daily chart, the price is correcting. After a significant increase with a price gap of 90.90–77.00, a slight slowdown in dynamics is observed.
On the four-hour chart, the quotes could not consolidate above the high of 98.50. However, the upward trend looks stable, and a test of the year’s high of 99.00 may follow soon.
Technical indicators are holding the buy signal: fast EMAs on the Alligator indicator are above the signal line, expanding the range of fluctuations, and the AO histogram is forming correction bars in the buy zone.
Trading tips
Long positions may be opened after the price grows and consolidates above 96.80, with the target at 104.00. Stop loss is 93.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 92.80, with the target at 84.70. Stop loss — 96.00.
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