Starbucks might see a pick up right here
We hit the long term trend line right at the 50$ so for me it is in a support spot.
Lets see what happens and
May the markets be with us
4SBUX trade ideas
STARBUCKS - CORRECTION AHEAD?
For this one it is very important to take note of that sloped yellow support line that has already held for longer than I initially thought! Only after breaking this line we can confirm a bigger correction.
Starbucks has made an amazing run all the way to above the 2.618 fib extension of wave 1!
It is obvious that this kind of growth is most likely not sustainable and we are in a quite overreached market still. Therefore I think we need to correct to the 0.382 fib level ($41.5) AT LEAST to remain in a healthy uptrend, much rather would I see even a 0.5 retracement ($34)!
Sidenote: There are other ways to count this, which is why I was very clear about that yellow support! Stay safe!
I hope this was helpful! Take care!
Starbucks, good trading opportunity.After news release that Starbucks closes 150 coffeshops, we had 2 big selling days. Breaking through one confirmed trend line and now testing another big one from the beginning of the trend.
This could be a good buying opportunity to trade a bounce with a good risk-reward ratio, stop below the 50 or 49, 1st target at the previous trend line .
Alternatively a break below the 47.80 level would provide good confirmation for a short position to the next big support at 42.10, which is also the 38.2% retracement.
Happy Trading!
An over-reaction or a major trend reversal? With the significant 2-day decline on high volume, combined with the breach of the often-tested $53 area of support, NASDAQ:SBUX seems to have begun a major reversal.
In the absence of any positive news in the near future, I see a continuation of the downtrend towards the next support level of about $43.70.
STARBUCKS BUY CHINA MARKET EXPANSION + IDENTIFICATION OF PROBThis is going to sound weird but I recommend buying. Starbucks closing a lot of its outlets have caused a huge drop in stocks.
In all honesty, though, Starbucks has a very high chance of coming back from this, especially as they've started introducing new options and are now focused on doing better. They've identified multiple problems and are working on solving them. This really has the mark of a dedicated company and hence I'm quite confident in their future
Heck, they are currently opening a new outlet in China every 14 hours!! They are also opening new outlets all over the world including Italy. Targetting the international market will undoubtedly be good for the stock.
Therefore it might be smart to invest at this point due to the drop and then make a profit as the prices increase over time.
Please do this at your own risk though as the price could very well drop and some people may have no confidence in Starbucks. In that case, do go ahead and short!!
Again, as a complete amateur, likes/ feedback would be appreciated.
The Hot drink indicator Starbucks the leading coffee house is an great indicator to the spending patterns of people.
During the 07/08 crash Starbucks Share price peaked before this. Why would that be? Its because luxury hot drinks Is one of the first items people cut back on when times are tough. I am looking at Starbucks to see if it will peak before this current bull run is over. At the moment its moving sideways and I believe it will let us know when the next bear run is on its way.
SBUX - Possible earnings play creating mid-term opportunityStarbucks has been in consolidation for quite a while.
I believe it's due for a breakout, but due to macro issues - it hasn't been able to.
Earnings season has come, and earnings are showing very positive numbers. Assuming SBUX follows suite, it could trigger a breakout, which will in turn trigger a mid-term rally opportunity.
Note that this is assuming macro issues calm down and the stock market continues to rally.
