Big top formation. Look for $60 or less by year end. $70.03 last.
The rising wedge is an added bonus AND the earnings support at $69.75 is the final hope, but you can see it has been tested many times so far.
Note my other chart on how overvalued SBUX based on trading at 3 times its revenues, but not much in the way of earnings.
Risk: 3 ATR's (11-day ATR),...
My question is for SBUX shareholders. How can you hold onto shares of a stock that trade at a valuation of more than 3 times the underlying revenues of the firm and isn't taking home any money at the end of the year? The free-cash-flow isn't there for SBUX, but the market valuation is a frothy 52.72 Billion. If you owned this whole company to yourself then you...
Index Arbitrage Forecast: Starbucks will outperform Nasdaq
Supporting Strategies: Cointegration, Correlation and Technical
Analysis Pattern : Inverted Head and Shoulder
The trade should be opposite to the "gap". Nasx has performed better than SBUX, in order to close the gap Starbucks will now perform better in the next 90 days.
Targets and notes on charts
Structure:
There is a head & shoulders pattern with a quite steep neckline indicating a tough fall. We can see a support at 69,90,
however, considering the harsh bearish push of late,I assume, the downtrend will rally down to the next support
at 67,00 in a week time.
Note: As the chart shows, SBUX has a charming yield that raised to 1.23%. (The all time high...
See chart.
See the price of coffee KC1! has doubled this year: from just over $1/lb to over $2/lb.
Note: Retailers are weak. Economy is flat. People spent their money on home heating oil and high energy costs and have been cutting back on discretionary coffee purchases. Perhaps the K-Cup is eating into SBUX business. $1 at home instead of $5 out at the...
Friends,
I built this chart yesterday as of the first early bearish reversal signal received, however, a bearish market reversal confirmation remains pending at this time. Two potential bearish targets remain unconfirmed at this time as well (not shown as of yet in this chart), until the confirmation signal occurs.
For the time being, we are expecting a relief...
The SBUX proposition is not a pretty picture from several angles: SBUX edged out a profit for the year 2013 when the price of coffee had dropped dramatically. The price of sugar dropped also. I suppose what might be happening here is that investors are terrified that if SBUX can't make money in a perfect world scenario, then it doesn't bode well going forward...
Starbucks has been going up since 2009 and is currently undergoing a correction.
Earnings aren't until April 24th so there is a lot of time.
The dashed line is holding as resistance and once this is defeated expect the uptrend to continue.
Right now I would short as close to this line as possible and see where it takes us.
I sold some Starbucks.
It gapped up, yes.
But here it stopped. It made a classical Fibonacci retracement until 61,8 % and looks like it will end the day at 50 % .
The previous 4 days where at a high trading volume and todays high volume may be counted like a volume retracement as well, i.e. todays price retracement less than half of the sales of the past days....
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.
