Update to SBUX trade5 waves impulsive move up from November low followed by 3 wave correction holding 50% Fib support. Looking for a continuation of the move up from here.
SBUX
SBUX held weekly supportSBUX held weekly support with timing. Clear where it may go to black cross iMTF resistance in the run up to earnings
SBUX to reject EMA200 & Support Channel ?!Potential reversal signal forming. Early EP is now at near $56.50 with tight Stop Loss.
Wiser entry is to wait reversal signal to form/or after price rejected the support /ascending channel at $56.50
Caffeine Highs... for now. MA5 says its going down, but longer MA TFs say go up. Weeklys also agree that it is in uptrend. However, I'd rather way for confirmation on the breakdown/breakout (blue dashed line).
$SBUX Follow-through $SBUX is following through on a great last two weeks of price action. On a down day in the markets overall, the stock is up over .5%. The next hurdle to get through is the year long resistance level at $58.10. If this can break and hold, the stock has nothing but clear skies ahead.
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SBUX swing trade opportunitySBUX DLY prices have broke the cloud to the upside (bullish) but have some resistance at 55.88 and 56.14, waiting for confirmation from the lagging span which has closed below its resistance as well but has a kumo twist (weak spot) to go through. We had a very good uptrend this week, we could expect a pullback at the top of the cloud around 55.30 and a bounce off in order to fill the gap at the end of august (orange box).
$SBUX Buy$SBUX has finally reached a buying opportunity! The stock has successfully held last weeks breakout
The RSI has crossed the longterm downtrend and is above the 50 mark
MACD has crossed and held
Volume was large last week, and continued into this week
Continued earnings growth
Order set for a limit purchase at $56. position size 100 shares ($5600)
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SBUX long swing tradeSBUX DLY has broke the cloud to the upside, waiting for confirmation from the LS (lagging span) which has some resistance at 55.88 and 56.14 but has a kumo twist (weak spot) to go through. We had a very good uptrend this week, we could expect a pullback at the top of the cloud around 55.30 and a bounce off in order to fill the gap at the end of august (orange box). The tenkan sen and kijun sen are still pointing to the upside meaning that prices tend to rise.
$SBUX Getting Interesting$SBUX may be coming back into play. With a better than expected quarter (in my opinion) and really putting the focus on Chinas growth, we may have a breakout.
CMF is still in an uptrend since September
MACD is looking like we may have a shallow cross
RSI has ticked back up
Support at the $52.50 mark was held and bounced.
All these together make it go higher on the watchlist. Keep your eye on this one.
$SBUX Continues to Slide$SBUX continues its slow decline through 2016. After an incredible run in 2015, this is to be expected. Although $SBUX is still maintaining its dominance in the coffee world, it is at the end of its massive growth cycle. I expect growth to be incremental in foreign countries and China to determine the course of the stock over the coming months/years. Until it sees a turnaround in volume and RSI...keep this on the long term watch list.
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SBUX Bullish Gap FillsStarbucks has been gapping down lately due to last week's bears roaring in. This week, it's time for bulls to take back what's ours and fill the gaps that have been left in the market. SBUX is not the only one, we can also look at a few others like Google. My opinion, by end of week, prices should move higher around $56 area.
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Starbucks follows McDonald's?Main signals:
1- strong monthly short trend,
2- local short trend
3- flag
Sell the breakout of bottom flag's line 54.70-54.60
Stop-loss 56.30 (+1 tic flag's high price)
Target 52.50 (sizing+strong supporting level)
$SBUX Unable to Breakout$SBUX was a MASSIVE winner in 2015, doubling its stock price. Since November of last year the stock has taken a breather. $SBUX has been unable to sustain a breakout over its MA's. CMF seems to have bottomed out and is leveling off nicely. We will keep a close eye on this stock as the year closes out. I expect $SBUX to regain momentum early 2017.
Short term = Neutral
Long term =Long
$SBUX coil / bull flag$SBUX daily resembling a coil around POC, but also a bull flag-like structure into wedge support and a .618 retracement.
A little room to downside, but see a move up over the long term if it can recapture the 50 and 200 MAs.
Damn good coffee too :)
Star Bux Stock Looking Bearish After BreakoutReasons To Short:
Upward Channel Breakout Can Lead To Trend To Follow
Trend Is Down
Moving Averages Compression
Holding This Area For A Long Time
Volume Is High
This Pair Can Easily Form Gaps
SBUX - weekly topping pattern ?Looks like a big diagonal Head & Shoulders pattern, with a subsequent run higher in order to shake out early sellers. Setting alerts at 54.49 USD and major big number level 52.00 USD.
Ascending triangle SBUXPrice on SBUX since the beginning of the year has formed an almost text book ascending triangle. Normally this is a continuation pattern. However, for SBUX this would be a reversal after price sunk from the ATH of $64 to $54. If this triangle plays out like it should look for a 14% pop or price to go to around $67. Of course watch for the resistance at the previous ATH of in $62 -$64 range.
NEXT WEEK'S EARNINGS PLAYS -- NFLX, IBM, GS, SBUX, AND OTHERSNext week is literally hopping with potential earnings announcement plays.
I've tried to pick out the ones that (1) have > 70% implied volatility rank; (2) offer greater than a 1.00 credit ($100) for the "classic" one standard deviation short strangle setup; (3) have fairly good liquidity with options prices; and (4) offer weeklies, but there are also a few >.50/<1.00 credit plays that I might nevertheless play (e.g., CREE, SBUX), although I think I can afford to be picky here given the selection ... .
PLAYS TO PUT ON TUESDAY
CREE -- Tuesday, after market close. High implied vol rank/high implied vol, but <1.00 credit for a 1 standard deviation short strangle.
IBM -- Tuesday, after market close.
NFLX -- Tuesday, after market close.
GS -- Wednesday, before market open.
PLAYS TO PUT ON WEDNESDAY
SBUX -- Wednesday, after market close. High implied vol/but implied vol <50% and <1.00 credit.
PLAYS TO PUT ON THURSDAY
SLB -- Thursday, after market close. I don't think I've every played this underlying. It's a tech company that provides support to oil and gas, and I've got plenty of petro plays on.
Notes: There are also a couple of earnings plays that might be interesting to play via other methods. One of these that comes to mind is KMI. It's got a high implied volatility rank, high implied volatility, and liquidity. The problem is that the price of the underlying is currently $13.00, so you just can't get enough premium out of it via short strangle or iron condor to bother with it using one of those strategies ... .
