Starbucks (SBUX) - Long Setup On a Reversal
We're monitoring a potential bullish setup for Starbucks on the daily timeframe. The price is approaching a key buy zone, identified at the 0.618 - 0.786 Fibonacci levels, which aligns with previous structural support.
This presents an opportunity for a reversal to the upside.
Trade Details:
- Entry (Buy Zone): $83.69
- Stop-loss (Red Zone): $76.79
Targets (Green Zones):
- Target 1: $91.24 (0.382 retracement)
- Target 2: $110.85 (0.236 retracement)
Analysis:
The bullish bias is supported by the confluence of Fibonacci retracement levels and the structural buy zone.
Look for a bounce in this zone, with upside potential to the 0.382 and 0.236 retracement levels. This is a swing trade setup, so patience is key.
This presents an opportunity for a reversal to the upside.
Trade Details:
- Entry (Buy Zone): $83.69
- Stop-loss (Red Zone): $76.79
Targets (Green Zones):
- Target 1: $91.24 (0.382 retracement)
- Target 2: $110.85 (0.236 retracement)
Analysis:
The bullish bias is supported by the confluence of Fibonacci retracement levels and the structural buy zone.
Look for a bounce in this zone, with upside potential to the 0.382 and 0.236 retracement levels. This is a swing trade setup, so patience is key.
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.