SBUX Possible Short Incoming
Updated
Hello Traders!
I see a possible short coming for SBUX as I will watch what it does at this critical level.
There is a Gap below I am looking at for a possible TP.
Reversal Signals:
Approaching Overbought on RSI for: Daily/Weekly TF
Divergence on RSI
I will be patient before making any type of move. I have a long term bullish outlook so I like to confluence on the Fibonnaci levels.
I see a possible short coming for SBUX as I will watch what it does at this critical level.
There is a Gap below I am looking at for a possible TP.
Reversal Signals:
Approaching Overbought on RSI for: Daily/Weekly TF
Divergence on RSI
I will be patient before making any type of move. I have a long term bullish outlook so I like to confluence on the Fibonnaci levels.
Note
Entered a put at 99.26 and exited at 96 when it retraced at the orange line. Going to watch to see how price reacts to my resistance level.
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