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SBUX structure chart.

Updated

friend asked me to have a look at star bucks given a bunch of news and events that are floating around over the next quarter. I probably wont trade this as equities arent my thing but here are some thoughts based on structure.

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trading view distorted the chart on publish. here the full side version

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the "everyone will try to short" level is working as expected thus far.

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made a about 80% of the way to the fix extension and sold on EOY .

you can make the argument that this is a support back test.
i would be watching for a rise towards earning. most likely to be range bound as long as the index doesnt sell off.

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stabucks earning is this moning. currently trading above the fib extension.

to recap - the original "everyone will short level" got blown up pretty quickly MSM was wrong again.

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if you held this trade from the given entry and sold anytime in the last 3 months you made 80 - 100% gains

IamNomad

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