SBUX of late has been in a descending channel and has sloped down heavily in April.
It is now in deep undervalued and overbought territory at the bottom of the channel and
above the 3rd lower VWAP band line. The RSI lines ( both faster and slower) are bearish as
well. My trade plan is to watch Starbucks for a reversal which may be signaled by
bullish...
SBUX looks set to start a wave down to around $83 after a sideways ABCDE correction:
- 1:1 extension of the move down from 16 Nov 2023 to 17 Jan 2024
- 1:1 extension of the larger move down from 1st May 2023 to 3rd Oct 2023
- $83 is also strong support from previous consolidation in 2022
The Starbucks share price has fallen again in recent weeks and has now approached the important support level of $89.28. Primarily, we expect the turquoise-colored wave B to continue its corrective rise before starting its final descent to the green target zone between $86.38 and $68.39. Alternatively, however, it could already be working on this descent should it...
A big price jump is expected Tuesday for SBUX. Based on candlestick analysis you can see at the bottom of the chart the first dashed line which is support. The green line above that is resistance which SBUX broke through today. The third green line at the 92.78 price line is the next level of resistance which SBUX has to go through in order to break out. We...
Starbucks continue to break through resistance. I was told it would not go up today by a user and they were incorrect. We had a nice 1% gain today and I am expecting SBUX due to rise again tomorrow based on the candlestick trend breaking through resistance 2. It will have no choice but to go up and test resistance 2. Even if resistance 2 isn't broken it will at...
Starbucks is sitting above support and could break out to resistance 1 or resistance 2 on Monday 3.11.24. MACD proves growing bullish divergence while divergence+ shows bullish divergence as well. The Kurotoga cloud shows the downward trend based on resistance but current resistance is weak and the current candles are starting to break through. I predict a 1-2%...
NASDAQ:SBUX
Analysis is based on simplified Smart Money Trading Concepts.
Starbucks analysis was performed on both the Weekly Time Frame and then dialed down to the Daily.
The Weekly TF has had a change of swing structure from bearish to bullish (noted by the line with "W-x"). Then we had a pull back into the current discount zone and on the daily time frame...
perfect rejection from multiple SMA resistance/lower highs and still being held below strong trend resistance..
the volume also looks like its only sellers! break of 88.97 sends us to 71-82, we may start to bottom out around there..
break of 104.88 and we get bullish, but my bias tells me the short trigger is coming soon. lets see.. boost and follow for more!...
Best buy after it takes liquidity. There is a fibo level and low volume zone to fill.
I m not sure if this strange a popular company can go so low, but if goes, fib 1.5 is really good level to buy it.
SBUX looks like it's getting heavy up here. I'm looking to short the break of the uptrend. It's currently at a 2.02% dividend which isn't great right now. I don't like trying to pick tops, but always seem to give it a go. So here's one for everyone to see. Ridicule me if you like.
If you haven`t bought the dip on SBUX:
Then analyzing the options chain and the chart patterns of SBUX Starbucks Corporation prior to the earnings report this week,
I would consider purchasing the 96usd strike price Calls with
an expiration date of 2024-2-2,
for a premium of approximately $1.55.
If these options prove to be profitable prior to the earnings...
SBUX continues its decline, which started on May 2023 at $115.48. It may be currently making the Y wave of the Elliot WXY double correction.
I expect this correction to continue until the range of $77.5-$83. I think this price range will be a great buying opportunity for SBUX when looking at the fundamental analysis of the company. After this price range, there...
SBUX - Added a starter long here, Risk to reward seems better here.
Stop Loss - 85
Target #1 - 100 Phsyc number
Target #2 - 120
Target #3 - 130 , after a pullback to 110's
Reasons for bullish bias:
- Price broke Last LH
- Bounce from strong support
Entry Level(CMP): 96.17
Stop Loss Level: 90.95
Take Profit Level 1: 101.39
Take Profit Level 2: 106.61
SBUX is sitting on a key support going into Earnings.
Confluence of two high timeframe fibs that are proven.
What happens at this zone could start a trending wave.
=========================================
Financial Performance: In 2023, Starbucks’s revenue was $35.98 billion, an increase of 11.55% compared to the previous year’s $32.25 billion. Earnings were $4.12 billion, an increase of 25.69%2.
Analyst Forecast: According to 21 analysts, the average rating for SBUX stock is “Buy.” The 12-month stock price forecast is $114.35, which is an increase of 23.22% from...
Starbucks ( NASDAQ:SBUX ) has printed a bullish divergence on the 1D timeframe.
This occurs when the price action lows create lower lows, while the RSI lows simultaneously create higher lows.
What this shows is that strength is increasing as price drops. Usually indicative of a sharp impending rally and most reliable at the bottom of a move.
NASDAQ:SBUX ...
