SBUX 12/29/2021
Updated
SBUX
Daily chart analysis
We are currently still in a long-term uptrend respecting the 200ema.
Price was in an Uptrend channel between April 2020 – August 2021. Price broke out of the channel and went into what looks like a correction channel that is has been respecting end of August 2021 – December 2021. Price had a false breakout early December to only fall back into the correction channel. Price rejected 200ema and followed to breakout of correction channel for a second time. The bounce from the 200 ema shows strength bulls are looking to break upwards and start new uptrend channel.
With this breakout, price is looking to confirm a “Measured Move up”.
Entry: Current price
Stop: trailing 50ema.
Daily chart analysis
We are currently still in a long-term uptrend respecting the 200ema.
Price was in an Uptrend channel between April 2020 – August 2021. Price broke out of the channel and went into what looks like a correction channel that is has been respecting end of August 2021 – December 2021. Price had a false breakout early December to only fall back into the correction channel. Price rejected 200ema and followed to breakout of correction channel for a second time. The bounce from the 200 ema shows strength bulls are looking to break upwards and start new uptrend channel.
With this breakout, price is looking to confirm a “Measured Move up”.
Entry: Current price
Stop: trailing 50ema.
Trade closed: stop reached
Sopped 112
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.