This stock has had a killer 2013 but as of recently with the spike in $JO (Coffee) and the minor collapse in SBUX one can begin to look for a pair trade with long $JO, Short $SBUX. We shall see how this develops but as of now, the bias is to the short side and the case could easily be made for a bear flag in SBUX now.
I like to keep technical analysis simple, sbux made a clean break of its 50 day with next support at the 100 day which is at 76.29. This is one of those stocks that is a hedge fund darling with growth continuing to exceed expectations and the company itself INNOVATING in the COFFEE space. I mean that is just unheard of. Coffee and innovation. Because of this, I am...
Chart speaks for itself.
These setups are significant for multi year tops and bottoms.
Its that simple, look at any stock or currency.
But wait for a bearish monthly close to confirm.
Please see the monthly logarithmic chart as well. This can cloud the potential buy zones as its showing very bearish signals.
I will link it here in a moment.
Also the "2009" style price would actually be around the $20-25 range. Not $41-$48 but that is still a potentially great zone.
It's funny, the market players use "rumors" and "signals" to shake players out...
Watch out for WL-2 which provide some resistance to the upwards bucking. The upsloping blue ML carries the momentum and the frequency for the price to break above WL-2.
Overall trend is up but let's wait for retracement preferably down to the upsloping blue ML.
$SBUX. Denying strength is a traders constant fight of destiny; you can sense something cometh, but, then you are struck by some reality such as seasonality, lowering of prices for goods, that eco-footprint which haunts us, and the basic fact the tables simply are not large enough for all ones gadgets and gizmos. This concept chart displays a discplined approach...
