SBUX - Rising Trend Channel [MID TERM]🔹SBUX has broken the floor of the rising trend channel in the medium long term, which indicates a weaker initial rising rate.
🔹Break downwards through 98 will be a negative signal.
🔹Overall assessed as technically positive for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
SBUX
$SBUX Analysis, Key Levels & TargetsNASDAQ:SBUX Analysis, Key Levels & Targets
Time for some new swing targets…
Target 1 at 94, and Target 2 @77… and that is the start, but all of the other targets are in play as well if we dip even harder… and target 1 and two would create a head and shoulders if hit…
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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
Investment Thesis: StarbucksStarbucks has established itself as a dominant player in the specialty coffee industry, with a strong brand image, extensive global presence, and a diversified product portfolio. The company's successful business model, focused on providing high-quality coffee and a unique customer experience, positions it for continued growth. However, there are potential risks to consider, including increasing competition, changing consumer preferences, and potential supply chain disruptions. Overall, Starbucks presents an attractive investment opportunity with the potential for long-term value creation.
SBUX Near Crucial Levels and $117 is the Next TargetOn the daily chart, SBUX swings within the middle of an ascending wedge and tries to stabilize above the horizontal resistance area between Fibonacci level of 78.6% at $107.23 and $108.87.
While we are now waiting for SBUX to breakout above the ascending wedge, which paves the way to advance towards $117.80-120.76 as initial targets. With setting the levels of 126.32-131.24 dollars as additional targets in the case that the SBUX managed to exceed the previous targets and hold above them.
On the opposite side, if SBUX fails to hold within the rising wedge range and breaks down, we may witness a return towards the previous swing area near the level of $103.89 and also near the EMA-50. If SBUX also breaches these lines, we may witness a further decline towards the levels of $98.93-96.17 as next bearish targets.
SBUX - Bearish Divergence - Short OpportunitySBUX seems to be showing a bearish divergence with the price action and RSI.
If you can look at the chart, see how the Price action is creating Higher Highs, and RSI indicator is creating Lower Highs. That is a bearish indicator.
Obviously, we do not want to make our decision just by using one indicator.
We also see a rising wedge (in yellow) which we can use to mark our entries. As drawn on the chart, if the price breaks and closes below the rising wedge, we can enter PUTS and ride it until after earnings.
The trade will get invalidated if the price breaks and closes above the bigger rising wedge (blue) , or (109.76) which we can use as a Stop-Loss.
I've also marked some key support levels on the downside which you can use to plan your exits.
TRADE:
Option 1: (ITM) $110 Puts Expiring 3/17/2023 (around $530 per contract)
Option 2: (OTM) $95 Puts Expiring 3/17/2023 (around $100 per contract)
Stop-Loss: Price closes above 109.76
Risk: HIGH . (This can easily backfire and run up with the earnings FUD and depending on the result.) But I'll stick to my strategy and add the trade with a tight stop.
As earnings are approaching, it is always risky to trade the ticker due to high volatility and not having a clear direction bias of the result.
This is just my opinion. Do you own research before entering the trade.
Let me know what you think in the comments below. Would love to see some of your inputs.
SBUX Starbucks Options Ahead Of EarningsIf you haven`t bought SBUX Starbucks after my last chart:
Then you should know that the rally could continue, in my opinion.
Looking at the SBUX Starbucks options chain ahead of earnings , I would buy the $115 strike price Calls with
2023-4-21 expiration date for about
$2.90 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
BROS - Dutch Bros Inc.One of the longer-term plays I am watching. IPO'd back in 2021, they don't have much in the way of current earnings, but analyst estimates are expecting big growth over the next couple of years.
Starting to inch its way up the right side of a possible stage 1 base on good volume. Don't need to rush into buying this one - need to let it show me that it is in fact ready to go. As of now, it's still in a downtrend regardless of the constructive action since the start of the year.
Starbucks SHORT The MACD and RSI indicators are showing overbought conditions, which may suggest that taking a short position at current level may be a good idea.
The target would be when the price reaches upsloping trendline which may take awhile.
Stop loss is 100,86.
Entry level is 98,43.
Entry as shown in the chart (red horizontal line)
SBUX BOOOLISHLonged SBUX Friday and sold as it absolutely ripped, and I don't like holding contracts over the weekend in this market. Earnings coming up if they beat, I think she rips. I think it's likely they beat as well. Depending on how it opens tomorrow it's near the top of my watchlist for a long. Looks like accumulation the past couple weeks. The max I would ride it would be to the black line as you can see it was resistance/support. I would likely take profits before then though bc I like to protect my profits and play it safe during an uncertain market. Not financial advice. $SPY $SBUX $ES
9/28/22 SBUXStarbucks Corporation ( NASDAQ:SBUX )
Sector: Consumer Services (Restaurants)
Market Capitalization: 96.703B
Current Price: $87.11
Breakout price: $90.30
Buy Zone (Top/Bottom Range): $86.30-$81.55
Price Target: $106.60-$108.40
Estimated Duration to Target: 65-71d
Contract of Interest: $SBUX 12/16/22 92.5c
Trade price as of publish date: $3.50/contract