sbux breakout lookout
long term trend is in uptrend with trend strength increasing
intermediate time frame is showing increasing uptrend with slightly flattening longer term moving average
might be indicating consolidation...forming a tight symmetrical flag in uptrend
move should lead to breakout past resistance area of 63.5x area and into areas of least resistance
target is the .618 extension level at 65.85
volatility is contracting setting up for a major move
possible breakdown due to negative divergence in rsi so remaining cautious- setting stop at 62.9x area
volume is showing strong positive pressure
intermediate time frame is showing increasing uptrend with slightly flattening longer term moving average
might be indicating consolidation...forming a tight symmetrical flag in uptrend
move should lead to breakout past resistance area of 63.5x area and into areas of least resistance
target is the .618 extension level at 65.85
volatility is contracting setting up for a major move
possible breakdown due to negative divergence in rsi so remaining cautious- setting stop at 62.9x area
volume is showing strong positive pressure
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