SBUX
SBUX bullish Cyper pattern with an inside day breakout.SBUX has an weekly cypher pattern and the entry point is right here, yesterday it was an inside day breakout but it didn't give great follow through.
With regard to weekly level harmonic pattern, a small inside breakout may not be good enough to take as a confirmation entry.
So my game plan will be:
1. pay attention to the intraday price movement to find an uptrend in smaller time frame and try to long.
2. create a long position with an out at 49.95, and a mid-term trade.
3. wait reversal sign like hammer and double bottom here as confirmation entry.
Let's see how it goes and I'll update the trade here.
$SBUX (Starbucks) Long Possibility The good thing about this stock is that it usually recovers in a fairly quick amount of time. This stock doesn't always recover right away. I personally think Starbucks is coming to an area of previous support, so I believe price will follow history and recover back to the pre-earnings prices. Remember if you take my ideas to live trading, please remember that risk is important.
SBUX time to slap the sleeping bear and run!SBUX has been dropping recently. But the stock seemed way oversold and people are tired of selling. I predict that the stock will rise couple(3% - 4%) percent BEFORE earnings. I am not sure about what happen right during/after earnings release. As you can see the MACD blue line starts to bend upward, in my opinion the price will rise a bit(but not home run) when MACD blue line crosses above orange line. This is confirmed by stochastic oscillator that it was in oversold region for a while. (Look at how beautiful those two stochastic upward lines are!) Moreover this price area is the peak of many smaller domes in the past months so this should be a strong support. What I am afraid of is On Balance Volume(OBV). OBV has a strong downtrend there is a risk that this stock continues to fall. I will put a stop loss somewhere but if you were to buy now please sell before earnings. In my opinion betting on earnings is like gambling, UNLESS you did a lot of coffee research.
SBUX Long positionStarbucks long position
1: At Support line
2: Rsi is oversold
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sbux breakout lookoutlong term trend is in uptrend with trend strength increasing
intermediate time frame is showing increasing uptrend with slightly flattening longer term moving average
might be indicating consolidation...forming a tight symmetrical flag in uptrend
move should lead to breakout past resistance area of 63.5x area and into areas of least resistance
target is the .618 extension level at 65.85
volatility is contracting setting up for a major move
possible breakdown due to negative divergence in rsi so remaining cautious- setting stop at 62.9x area
volume is showing strong positive pressure
SBUX - Starbux's caffein sine wavesI see these two sine waves as you can see, market on the chart.
In my head, this could play out as follow:
- filling the GAP
- wipe out the longs who placed their stop below the minor sine wave
- pullback and...
- ...because of short term overall market drop, wipe out even the stops below the macro sine wave.
Whoaah...a little too far ahead for my feelings.
But it is how my brain tells em the story.
Just waiting for opportunity to come.
P!
JO: Gigantic double bottom in CoffeeThis can be a long term bottom for Coffee. I will be entering longs on Monday.
The monthly chart indicates this could be a gigantic double bottom at play.
CoT data is interesting, with large speculators going flat...
I expect the low printed here to hold, if we break this week's high it'll trigger a rally.
Good luck,
Ivan Labrie.
Some Upside For Starbucks (SBUX)On March 24, 2017 Starbucks (SBUX) crossed over the 50, 100, 200, and 250 day moving average (MA). Also, the 20 day MA crossed below the 200 day and the 50 day crossed below the 100 day MA. Historically the stock has crossed above the same four MAs three times and the stock moved up 3.704%, 4.927% and 9.000% over the next 25 trading days. The 20 day MA crossing below the 200 day and the 50 day crossing below the 100 day have not both occurred on the same day. The 20 day below the 200 day has occurred 23 times with a minimal drop of 0.274%, median drop of 5.494% and maximum drop of 30.091%. The 50 day below the 100 day has occurred 33 times with a minimal drop of 0.330%, median drop of 7.526% and maximum drop of 29.474%.
When we take a look at other technical indicators, the relative strength index (RSI) is at 58.4326. RSI tends to determine overbought and oversold levels. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is does not have a particular direction, but it is favoring the upside at the moment.
The true strength index (TSI) is currently -11.4156. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock is trending upward. The stock recently hit a temporary bottom according to the TSI and is working back toward positive territory.
The positive vortex indicator (VI) is currently 0.9324 while the negative is 0.9216. The VI determines current trend and direction. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock is trending upward. The positive just crossed the negative which indicates upward movement.
Considering the moving average crossover, RSI, TSI, and VI levels, the overall near-term stock direction appears to be trending upward. Based on historical movement compared to current levels and current overall downtrend channel, the stock could gain at least another 2% over the next four weeks.
Starbucks Corporation (SBUX) – coffee giant low on energy?We are currently in a long sideways phase that has been exited only briefly in a little over a year. Within the price range of approx. $53.00 – $63.00, the value is oscillating in sometimes larger, sometimes smaller movements. Since the beginning of December, a clearer downward trend has now formed. The value of the stock is showing rising volume in the downward movements, and an unattractive chart development as well as falling volume in the corrections. The significance of the downward trend is also strengthened in comparison with the large indexes (SP500/Dow30/NASDAQ100). Since the election of Mr. Trump, these have been able to record new highs, while the Starbucks stock is having to fight back against a rally.
Since there is still plenty of elbow room down to the lower edge of the sideways range, a trade in the direction of the downward trend seems to be the most lucrative. If a scenario such as the one in image 2 occurs, the subordinate trend could be used for an entry. The first target would be in the region around $54.00. A further target is also the area around $53.00. This is where the lower edge of the sideways range is located, which is why here at the latest, it would be advisable to take any profit.
If the trend does not continue and if the last highs at $59.00 are sustainably broken, the short scenario would have to be put aside. In this case, a renewed observation of the stock would be advisable.
$52.50-(A key support level for Starbucks).As I noted in the above chart, closing below the 100 WMA again is a troubling sign for the bulls.
I am watching the 52.50 level. If that level goes, the 200 WMA is up next at ~47.50.
The last time Starbucks fell below the 200 WMA was in 2007. It fell another 70% bottoming out around $4. Granted, that period was an extreme event and the company is more mature and in a better position today. I am in now implying it will fall 70% Just pointing out long it has been since the last move under the 200 WMA.
Now, a look toward some data.
Same store sales is slowing. See image below.
assets.bwbx.io
Jennifer Bartashus, an analyst at Bloomberg Intelligence notes-
“Starbucks is really starting to hit the saturation point in the U.S.,” she said. “The question with that is how are they going to continue to grow same-store sales.”
To achieve growth, it will mean growing same store sales at a better rate and pushing into new markets.
Per Bloomberg again-
"Starbucks has been trying to improve its food in the U.S. to lure more customers, especially beyond morning hours. This year, the company is adding fancier items to its menu, including Sous Vide Egg Bites and a gluten-free breakfast sandwich. To attract the on-the-go crowd, Starbucks also is expanding its snack-based meals called Bistro Boxes."
In other words, they are expanding to other categories besides coffee(line extension). They are hoping to gain a bigger share of the customer's wallet while they are in the store. Will it work or could those resources better be used elsewhere? The jury is still out.
I have no position in this stock but will be watching the levels noted on the chart closely.
Let me know what you think. Agree/disagree? Would love to hear your thoughts.
2nd try, first chart was off:)
$52.50-(A key level of support for Starbucks).As I noted in the above chart, closing below the 100 WMA again is a troubling sign for the bulls.
I am watching the 52.50 level. If that level goes, the 200 WMA is up next at ~47.50.
The last time Starbucks fell below the 200 WMA was in 2007. It fell another 70% bottoming out around $4. Granted, that period was an extreme event and the company is more mature and in a better position today. I am in now implying it will fall 70% Just pointing out long it has been since the last move under the 200 WMA.
Now, a look toward some data.
Same store sales is slowing. See image below.
assets.bwbx.io
Jennifer Bartashus, an analyst at Bloomberg Intelligence notes-
“Starbucks is really starting to hit the saturation point in the U.S.,” she said. “The question with that is how are they going to continue to grow same-store sales.”
To achieve growth, it will mean growing same store sales at a better rate and pushing into new markets.
Per Bloomberg again-
"Starbucks has been trying to improve its food in the U.S. to lure more customers, especially beyond morning hours. This year, the company is adding fancier items to its menu, including Sous Vide Egg Bites and a gluten-free breakfast sandwich. To attract the on-the-go crowd, Starbucks also is expanding its snack-based meals called Bistro Boxes."
In other words, they are expanding to other categories besides coffee(line extension). They are hoping to gain a bigger share of the customer's wallet while they are in the store. Will it work or could those resources better be used elsewhere? The jury is still out.
I have no position in this stock but will be watching the levels noted on the chart closely.
Let me know what you think. Agree/disagree? Would love to hear your thoughts.
THE WEEK AHEAD: EARNINGS TAKE THE STAGEYou wouldn't have known it last week with all the inauguration hoopla, but we're in earnings season. Now that the hoopla's in the rear view mirror, earnings will take the market stage (and, yes, a bit of digesting of what all "the hoopla" meant).
SPY et al. (Broad Market)
From a premium seller's perspective, "SPY and friends" continues to be an unproductive area in which to sell premium unless you're willing to go out farther in time. (See SPY April Iron Condor Trade Idea, below).
Earnings
There are some "big names" coming up this week (BABA, MSFT, CAT), but not all currently have the metrics that would make premium selling hugely productive (>70% implied volatility rank/>50% implied volatality). I'm keeping an eye on BABA, EBAY, and SBUX, but their implied volatility needs to pop a bit before I'm willing to play.
Non-Earnings
GDXJ remains the only non-earnings underlying with decent liquidity and the right volatility metrics for a play. I already have one on. (See GDXJ Post Below).
VIX/VIX Derivatives
Any way, you cut it, VIX is low here, having caved mightily into Friday's opex close to sub-12.
Consequently, I'm loathe to pile into further VIX "Term Structure" trades here, since I already have a March 16/19 short call vert on, as well as April 17/20, and I could easily see a modest (or not so modest) VIX rise to 14.0-ish (what the Feb /VX future is currently trading at) if the market gets indigestion processing what exactly "Trump World" will look like going forward ... .