Starbucks 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.
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.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.