Starbucks: Wide Awake?Starbucks has recently completed its dark green wave in our Target Zone (between $86.38 and $68.39) and should now be wide awake and ready for renewed rises above $89.73. The price has already worked its way upward step by step. However, we consider it 37% likely that SBUX will breach the bottom of our Zone to head for another corrective low.
Sbuxanalysis
SBUX - D1\W1SBUX
W1 - The 4th wave is forming, which can lead to a continuation of the downward movement, but it is also clear that the price, after fixing the level, has formed a reversal pattern on D1, which can lead to a strong correction.
D1 - Formation of a three-wave structure, you can try to consider buying from the level of 94.00. Locally to levels 101.76. If the price can gain a foothold at the level of 94.95, we can expect the movement to continue.
What can you expect?
You can consider entering from the level of 94.00 (you can consider breaking through the level or fixing the price behind this level) with further movement to the target 101.76. Cancel the idea so as not to take increased risk from the level of 90.74 . There may also be a false breakout of this level and continuation of the upward movement - in this case, it will be necessary to wait for a clear formation to continue the downward movement.
Targets 94.95 - 96.99 - 98.83 - 101.76
SBUX PINBARHere is one of my most explosive setups, the Pinbar. A bullish Pinbar on a HTF chart tells us that sellers tried pushing price lower but failed miserably due to a strong surge in buyers taking control and this is also confirmed by the CVol + The inverse head and shoulders on the LTF (5m). If you look at the 5m charts volume the last bar was much more noticeably larger than every proceeding volume bar which can be an indication to investors outlook on the next trading day.
SBUX a tale of two trendsSBUX appears to be in a repeating downtrend from Summer 2021 to Spring 2022. It would be ideal to utilize AI to predict how low SBUX will retrace. However, for the purpose of technical analysis (TA) and trend observation, I'm sharing indicators such as RSI, MACD, and AO, which suggest a high possibility of SBUX repeating the downtrend.
Over the next three months (June-September), SBUX is expected to move sideways between 96 and 106. Then, a significant drop would confirm the repetition of the downtrend, or a substantial surge could break 116, continuing the uptrend and setting a new high.
Here are the key observations:
On the weekly timeframe, RSI has remained below the mid-line since last month, indicating an expected continuation along the mid-line. Additionally, MACD's histogram bars are below the mid-line, further confirming the strength of the downtrend.
MACD is currently moving below the signal line, confirming the downtrend. Comparing previous uptrends on the price chart, which lasted 55 weeks, to the recent uptrend of 45 weeks, there is an approximate 10-week difference. Applying this 10-week gap to the length of the MACD histogram, which stayed below (or crossed) the signal line for 39 weeks in the past, the prediction for the repeating trend is approximately 28 weeks.
Similarly, looking at the Awesome Oscillator (AO), in the previous cycle, it took approximately 30 weeks for AO to cross below 0 and reach the lowest price. If the cycle is repeating, it is expected to take around 20 weeks to reach the lowest price.
Please note that these observations and predictions are based on technical indicators and historical patterns, and they may not guarantee future price movements. It's important to consider other factors and perform comprehensive analysis before making investment decisions.
SBUX Forecast After Meeting Earnings ExpectationsAfter touching our price target here:
Starbucks Corporation (SBUX) is in line with earnings expectations:
Revenue: $7.6 billion vs $7.62 billion expected
Adj. EPS: $0.59 vs $0.60 expected
U.S. same-store sales: 12.00% vs 8.90% expected
International same-store sales: -8.00% vs 1.87% expected
The China threat to SBUX is not over yet in my opinion, the U.S. and China stores represent 61% of the company’s global portfolio (2/3 stores in the U.S and 1/3 in China), and we could expect a retracement to the Covid lockdown area if we won`t see growth in the second half of the year.
Looking forward to read your opinion about it.
SBUX exposure to ChinaChina represents 45%-55% of Starbucks’ international sales and 10%-13% of aggregate sales!
The U.S. warning China it could face devastating sanctions if it defies the ban on doing business with Russia!
This is a move that could have huge impact on American companies.
My price target for SBUX is $72.
Looking forward to read your opinion about this.
1/2/22 SBUXStarbucks Corporation ( NASDAQ:SBUX )
Sector: Consumer Services (Restaurants)
Market Capitalization: 137.229B
Current Price: $116.97
Breakout price: $117.40
Buy Zone (Top/Bottom Range): $115.10-$109.10
Price Target: $126.30-$127.50 (1st), $129.20-$130.40 (2nd)
Estimated Duration to Target: 108-112d (1st), 159-165d (2nd)
Contract of Interest: $SBUX 3/18/22 125c, $SBUX 5/20/22 125c
Trade price as of publish date: $1.98/contract, $3.65/contract
STARBUCKS 4H NEAR FUTURE PREDICTIONTechnical Analysis Summary
SBUX/USD
TREND ANALYSIS
We have 1 Downtrend in red color
We have 1 uptrend in green color
All yellow trends are trends from the past I added the just to show you why starbucks started moving down from the trend prespective.
FUTURE PREDICTIONS
We have many resistance and support levels that I have mentioned above.
I use thickness as an indicator of stregth of levels (ONLY FOR VISUALS).
Be careful trends need to be modified when broken to the new peaks.
Good luck everyone, stay safe!
If you need help don't hesitate to send me a message or comment
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