Love me some Caramel Brulees!
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.
Notes on chart. Interesting insider buying, Mr Ullman, sir!
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...
More at: at-trader.blogspot.com on the top of the site you can translate the analysis, enjoy :)
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.
RSI BAMM Crab with volume confirming every leg of the pattern. Looks quite good for a reversal around $72.50.
$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...