SBUX upcoming earnings opportunity LONG
Updated
SBUX fell going into earnings in early May and continued down all of May then pivoting
into a slow climb on this 2H chart through the lower anchored VWAP bands until the present
where it is about to cross the mean VWAP lines as signaled by an engulfing green bar after a
Doji. The dual time frame RSI lines have both near the 50 levels with the lower in green
slightly above the higher in black. I see SBUX rising in the earning upcoming this week.
The target is the ascending trendline in black at about 104 for a quick 2.5% ROI in 2 days.
I will play this with some call options contracts striking 102 expiring August 11th. I will take
half of them off with a 50% unrealized profit and let the remainder run until 8/9 to avoid
acceleration of time decay.
into a slow climb on this 2H chart through the lower anchored VWAP bands until the present
where it is about to cross the mean VWAP lines as signaled by an engulfing green bar after a
Doji. The dual time frame RSI lines have both near the 50 levels with the lower in green
slightly above the higher in black. I see SBUX rising in the earning upcoming this week.
The target is the ascending trendline in black at about 104 for a quick 2.5% ROI in 2 days.
I will play this with some call options contracts striking 102 expiring August 11th. I will take
half of them off with a 50% unrealized profit and let the remainder run until 8/9 to avoid
acceleration of time decay.
Trade active
I believe that SBUX is currently in a megaphone pattern. This speaks to risingvolatility. Where there is volatility there are low-lying fruit. Price is at the bottom of
the pattern on the support of the first VWAP line about the mean.
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