More room to goSBUX looks like it continue downward for at least a few more weeks. That is, until the fall white girls convention at your local Starbucks.
SBUXCL trade ideas
Rektuccino To Go.Bull trap is in motion - likely has more milk in it but don't hang around too long as the market is about to become lactose intolerant.
$SBUX with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $SBUX after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 87.5%.
SBUX EarningsBearish on SBUX earnings, between inflation cutting into people's budget and rising labor and material costs, I think they miss
Also overbought on daily MFI with RSI divergence
Starbucks earnings continuation and gap fill following trend NASDAQ:SBUX
Starbucks earnings continuation and gap fill following trend
Is Starbucks Shooting For The Moon? Starbucks had a good quarter in Q2 despite widespread shutdowns in its second-largest market, China. The company reported $8.15 billion in net revenue for a gain of 8.7% over last year which beat the consensus by $0.02 billion. The beat is slim but compounded by strength in the largest market, the U.S., and new store openings. On a comp basis, the global comp is up 3% on a 6% increase in ticket average offset by a 3% decline in tickets. In North America, sales rose 9% on an 8% increase in check average and 1% increase in volume while International sales fell 18% on a 44% decline in China. Ex-China, International sales rose by double-digits, driven by new stores and deeper penetration of emerging coffee markets.
SBUX earnings and uptrend confirmedSBUX 50MA crossed back above the 100MA. Uptrend confirmed. Earnings tomorrow. Let's see what happens.
SBUX - turned the cornerBroke out of a cup base @ 80 on 18 July, then pulled back and retested this neckline which now affirmed that this resistance has now become support.
Time to buy the dips (as long as it does not close below 80). RSI >60 showing good strength. However, be mindful that earnings is expected out tomorrow. Should there be a dip after earnings (but staying >80), it would be a good opportunity to initiate some position.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
SBUX - Strong Bottom Along UptrendA strong bottom has formed along a Starbucks uptrend on this daily timeframe
It has also been previously seen as a point of resistance which further emphasizes its potential as a future support (how it is acting now)
Buy on this daily timeframe
SBUX Starbucks Corporation Options Ahead Of EarningsLooking at the SBUX Starbucks Corporation options chain, i would buy the $90 calls with
2022-9-16 expiration date for about
$1.88 premium.
Looking forward to read your opinion about it.
SBUX Target $107.5Since bottoming at $68.5 in May SBUX has made a series of higher lows and most recently a higher high. The ADX is confirming the uptrend since June when the D+ crossed D-. The OBV is also confirming the trend.
The most recent candle broke out of the weekly and daily descending trend lines and closed above the .618 Fibonacci level.
Short term and long term Force index cross is very bullish and the current price's proximity to the POC looks like a relatively safe entry as it represents the level at which the most shares have traded in the last 12 months ($79.26).
Assuming earnings are in line I anticipate a prolonged rally up the Fibonacci scale.
Targeting: $87.49, $92.64 $107.52
mark my words$SBUX is going to cover the GAP at the $90s level, refused to go back, and still going forward
what to expectas you can see, there is a symmetric triangle, there, waiting for retest the breakout point an going up 15% to the end of the pattern, the triangle means a trend reversal, so, we can expect to see higher prices for $SBUX
46% upside from hereQuality stock, a real company with earning, cash, real problems, not too much problems, and a 46% of potential upside, confirming the end of the down trend with a symmetric triangle.
StarbiesIf we cannot break and hold above 80.82 then I will be turning into an absolute bearish candle
SBUX LongSBUX getting some real good buying volumes in the base. most of the consumer services companies been doing good last week or so and some names have already broken out like MCD, WEN. SBUX might follow them. Above 80, looking at
9/16 80C
PT : 83.80, 85.60
SL : 78.60
next stop $93If you want to go long, the time is now. $SBUX has been created a symmetrical triangle pointing to $93
Nice buying volumeThis has been getting some good looking at volume buys in a base. Most of the consumer services companies have been doing good last week or so and some names have already broken out, $MCD $WEN. SBUX might follow them. Above 80, looking at 9/16 80c PT's: 83.80, 85.60 SL: 78.60
Starbucks: Caffeine boost for price actionStarbucks
Shortterm - We look to Buy at 76.22 (stop at 71.07)
The trend of higher lows is located at 70.80. This is positive for sentiment and the uptrend has potential to return. Early pessimism is likely to lead to losses although extended attempts lower are expected to fail. We look to buy dips.
Although the anticipated move is corrective, it does offer a good risk reward ratio for the short term.
Our profit targets will be 91.83 and 95.00
Resistance: 92.00 / 110.00 / 126.50
Support: 71.00 / 60.00 / 41.00
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034. PIGGISH PLAY - Short Starbucks CorpPart I. - Opening Statements:
Two things that I like about Starbucks:
1) The coffee is pretty good and the holiday special drinks are amusing
2) Much more importantly, SBUX has some of the most reliably clean bathrooms among all public places
Two things that I dislike about Starbucks:
1) Their naming convention for beverage sizes is illogical and somewhat culturally ignorant. Specifically, I have a major social-justice-esque problem with "Grande" and "Venti".
This would be because:
- "Grande" means "great" in Italian and means "big" in Spanish. Since the Italian translation isn't a valid size, one can only make sense of it if interpreted in Spanish.
- "Venti" can mean either "Winds" or "Twenty" in Italian. While the latter is for sure what they are referring to, I think both are equally inappropriate given that there is no Spanish interpretation for this size.
2) You need to provide them with a first name for the order, irrespective of whether you are the only customer in the store.
Before I move on with the impetus and details of this very elegant looking short setup on SBUX daily, let us examine both of these issues more closely by replaying the last SBUX run-in I had about six weeks ago:
Me (Internal Dialogue): I'm super thirsty and tired right now and I have to donate something to this place if I'm going to use their clean bathroom. F**k it, I'll go with the large Cold Brew this time. Hmm, is it Grande or Venti - I can never remember?
Me (to Register Attendant ): I'll take the "Gran-day" Cold Brew, please.
"Barista": "Sure thing, that will be 6.49. Can I get your name please?"
"Me (Internal): 6.49 is egregious for a cup of coffee. Where the hell do they get off charging that much? Hold up, 6.49 = Grande, which... = medium!? These freaking names are so stupid and don't make any sense. If this place didn't have clean bathrooms, I
swear to god this would be my last time in this place.
"Me (To "Barista"): "Great, thanks. Here's six.. and forty eight, forty-nine cents on the dot."
"Barista": "Awesome, now we'll just need your name for this order."
"Me (Internal): Why on this pandemic-forsaken planet do you need my name? Are you the IRS? Are you planning on sending me flowers? THERE'S NOBODY ELSE HERE, SO WHY DO YOU NEED MY NAME??. Idiot.
"Me (To "Barista"): "Uh, I guess. It's Perma."
"Me (Internal): (Sipping grande-medium coffee drink/spilling a bit and getting angry at Starbucks again) "This place sucks. I know it used to be good, but it definitely sucks now. Where are all the usual crowds that swarm here, pretending to study and what-
not? Well, this is the kind of brick-and-mortar business model that such a pandemic would theoretically crush to death. But, I mean, it's Starbucks and these stores are literally everywhere. Hmm, well real estate prices are nearly as inflated
as stock prices these days, so perhaps SBUX is about to get its second HBS Case Study with a Bankruptcy theme this time around... Yeah, if I see these shops start closing down, I'll be shorting this thing for making me choose the wrong-sized
drink, again.
PART II. - Actual Commentary on the Pig-Play & Fundamental Reasoning for SBUX Short:
If you skipped to here, then I don't entirely blame you. However, you might want to read the last paragraph of Part I (me internal dialogue) because this did in fact happen in real life and is the impetus for taking a sizeable short position against the company. See, I did notice a store closing the other day and then started following the stock a bit. It is bearish indeed. The killer blow, IMO, is that they really missed the bottom line on their ER yesterday, which can be directly linked to their strategic cost of brick-and-mortar cannibalization of properties in major cities that have seen rents skyrocket. While SBUX maintained pretty strong revenue, this was mostly due to newer channels in China that have started realizing gain. Unfortunately, the recipe as it currently stands domestically, is one of disaster because of the sheer number of properties that Starbucks owns. I wholehartedly believe that this ER is the first of many that concludes with 10-dollar per share stock price and forced liquidation in two years or so.
PART III. - Brief Technical Discussion & PIG SPECS:
Directing attention away from the fundamental picture, what we have in front of us is a truly harmonic price chart. Immediately upon opening up the chart, I noticed how symmetrical the price action distributed before the culmination top. The technique that I used here is an application of Gann's timing angles (1x1, 2x1, etc.) that can be found in any "Gann-fan" tool. These angles are naturally geometric and also fall within the generic harmonic scale of 1/8th. Specifically, the ones used above are the common 30 degrees, 45 degrees, 37.5 degrees and 27.5 degrees coming down from the left and intersecting the horizontal axis below. When these angle lines bounce off of the horizontal axis, they will ultimately intersect their original horizontal starting price levels (on the left, drawn across), as well as intersect with the other key angle lines' original starting price levels.
What is not commonly known is that these intersections can make for perfect trades, in perpetuity. I call the exact hit points "landmines" and they are depicted as green and red dots herein. The green dots are past "support" landmines and you can see that price bounces upward as it approaches the landmine's location in time. Conversely, the red landmines act as resistance as price approaches their vector time. Now, the gray dots are FUTURE LANDMINES that could either be GREEN OR RED, depending on whether the price action is above or below the exact hit in price-time. Also, when you have future landmines set up like this, you can without much effort, figure out a projected price path knowing that price will approach these points in the near-future.
So, now that the landmines are in place, and the earnings report confirmed my theory on the declining fundamental picture, I think its time to present you with the option contracts that I've already started accumulating yesterday:
PIG SPECS:
(LONG) PUT POSITION 1: SBUX PUT, STRIKE= 96, Expiration= 2/11, Allocation of Cap = 75%
(LONG) PUT POSITION 2: SBUX PUT, STRIKE = 97, Expiration= 2/4, Allocation of Cap =25%
Reasoning: While the two strikes and expirations are very similar in price and theta, this isn't a typical calendar play. I see this short as a very calculated, tight rip down over the next few sessions. The moves downward are likely to be symmetrical and the daily movements, methodical. I'm basing this off of the symmetry shown in the many years of ascending price action on the left side of the chart. If this assumption holds, then there is little point in getting fancy with OTM strikes and various exp. dates. No need to overthink this one - as it could be just as viable if one were to short the equity directly. I might do this as well tomorrow.
FIN.
-Venti-Bag-PigPlayer
NASDAQ:SBUX
SP:SPX
DJ:DJI
CURRENCYCOM:US500
CURRENCYCOM:US30
#SBUX LONG As we know dxy would bullish again and again because rate hike 75bps ,
but last night sxy got correction , so we could take long potition .
entry buy : about 73.90 - 74.04
take profit : 83.15
stop loss : 70.80
SBUX a short? Trying to get in the swing of ... well... swining ;).
SBUX is on my list as a short.
Looking at it from a math perspective on the SD chart, I think that SBUX actually could see the 50s again at some point later this year unfortunately.
But in the meantime, while it looks like its coming down with the rest of the market, I would keep targets conservative until we see some stability from this massive market oversoldness.
If we look at the daily chart there is some key technical support that SBUX is approaching at 71$ and then some descending support in the mid 60s:
My first price target would be a conservative 71$ (assuming we can get a bounce on Monday or Tuesday to give us a nicer entry point).
Final target would be in the mid 60s.
If you want to long term short this, I don't think 50s are out of the question. However, for me, this is just an exercise to get me back in the swinger mentality.
Plan is to see how it treats this janky channel Monday:
If we can get a bounce confined to this channel on Monday and/or Tuesday, then that would be my ideal entry. So ideal price target (for me) is 77 or higher. But we will see if we get that. But a 2 point bounce seems pretty standard for SBUX, so it seems in the realm of possibility.
We also have a pseudo Pipe top/bearish engulfing on the weekly chart:
Just my thoughts. Could be wrong on this but tend to think I am not ;).
Trade your own plan, your own way!
Trade safe everyone, enjoy the rest of your weekend!
Have You Ever Dropped A Starbucks Coffee?Have You Ever Dropped a Starbucks Coffee?
After you dropped your coffee, did the coffee cup pick itself back up? LOL!
Well, I've identified a falling wedge pattern on SBUX daily and four hour charts. Perhaps it will pick itself up from the "drop".
*This is not financial advice.
If you like this trade idea, please share your favorite Starbucks drink in the comment section below.
Try the strawberry lemonade refresher from Starbucks!
Refreshers are good,
MrALtrades00
