$SBUX earnings play ( BULLISH )
Starbucks (
SBUX) has printed a bullish divergence on the 1D timeframe.
This occurs when the price action lows create lower lows, while the RSI lows simultaneously create higher lows.
What this shows is that strength is increasing as price drops. Usually indicative of a sharp impending rally and most reliable at the bottom of a move.
SBUX has been in a free fall, dropping from a high of $107 on 11/16/23 to a low of $91 on 1/17/24
This 14.7% drop over the course of the last 2 months makes seeing this signal all the more intriguing.
Entered 3/15SBUX 95c at 2.84
Looking for a retest of 12/15/23’s highs around $99, leaving us with intrinsic value of $400 and a minimum 40% return
Earnings on 1/30
Not financial advice
SBUX) has printed a bullish divergence on the 1D timeframe. This occurs when the price action lows create lower lows, while the RSI lows simultaneously create higher lows.
What this shows is that strength is increasing as price drops. Usually indicative of a sharp impending rally and most reliable at the bottom of a move.
SBUX has been in a free fall, dropping from a high of $107 on 11/16/23 to a low of $91 on 1/17/24 This 14.7% drop over the course of the last 2 months makes seeing this signal all the more intriguing.
Entered 3/15
SBUX 95c at 2.84Looking for a retest of 12/15/23’s highs around $99, leaving us with intrinsic value of $400 and a minimum 40% return
Earnings on 1/30
Not financial advice
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