SBUB34 trade ideas
starbucks 9/8/20Lord of the Rings? place price targets expect to get rejected above and catch support below.
STARBUCKS CORP Option Hello traders, STARBUCKS CORP is in a fake bearish push with strong sell volume at the end of the session and on the TIMEFRAME DAILY. We watch a large volume of sales then see the TIMEFRAME 1 Min the refusal of the sellers. On a bullish volume that drops to the next bearish low point for a reversal. High potential to breakout the stabilization zone to go to the last precedent higher in another zone. If the buyers are really back, we can reach the next high, which corresponds to the top of the stabilization zone.
Please LIKE & FOLLOW, thank you!
a breakout is comingyellow arrow - may breakout from where it stopped
white arrow - may retest support then breakout from the support
Starbucks pull back before completing trend channel?Starbucks could be heading to the top of the channel but the speed/momentum at which it is doing so looks like due for a correction. Currently the price point looks to be at 1.618 of wave 1 which is an ideal resistance point for some correction. But, if it were to continue its momentum which is likely then the purple box is the next target point which is both a fib resistance and 2.0 fib extension. I think that SBUX will continue up to the purple box before any correction.
RSI: is overbought on the higher daily & 4hr time frames
EMA's: SBUX has gone pure vertical leaving all EMA's in the dust as well as bollinger-bands. These combined with the RSI lead me to believe there is a correction in store before the next run up.
News: There is no substantial news that I could find that would explain the crazy momentum.
Follow the $: overall the options trading volume is substantially in the bullish direction. looking at the charts this makes sense.the september 18th call expirations look to have almost 7x more capital in them than the puts.
Plays: I would look into $85 or $87 puts if the underlying continues with this momentum to purple box to play the correction. overall I am bullish on starbucks and will be following charts for long term bullish moves. Thanks!
SBUX micro wave 3 completeLooking for an ABC correction into demand at 82 to set up a long entry. Short term trade.
Starbucks to test highs of the year!Starbucks is the 5th largest company in the consumer discretionary sector by market cap. Having said that, it has largely missed out on the outperformance of the sector vs the S&P 500 during this rally and is trading significantly below the prior highs of the year.
Starbucks flagged a “Go” on August 10th and the trend has remained intact. Recently, we saw a low risk entry point as the GoNoGo Oscillator rallied off zero.
On Friday, price broke above a recent high, setting the stage for a test of the pre coronavirus highs.
If price consolidates above 84, then it is realistic to look for the coffee giant to brew up a rally which would test the highs around 94, and in doing so catch up with the rest of the consumer discretionary sector.
☕ SBUX (8/31) - (9/11) ☕ Options☕ SBUX ☕
SBUX had a nice bull run last week topping out around @85.30
Holding above @83.50 and SBUX will have a high chance to break last's week's high. Above @85.65 and we'll find @87-88
On the downside, failing to break @85.30 and we'll most likely pullback to @82.50's, @79.50's, then rock solid support @77.15
ABC Bullish Symmetric TriangleSBUX has been in several S Triangles but broke out of largest one in the last few days, but not too far out as of yet. I am pretty sure this one has made it past the R of B
No rising wedges which is refreshing. Earnings in October
Possible stop under C or to your tolerance. We are all different on what we are willing to risk
Not a recommendation
Potential buy signal in SBUXA well defined risk bullish entry on Starbucks. Not the best risk/return profile, but in case you want to take a long position two clear targets are set.
Recommended trade:
Buy Price: $82.50
Upside
Take Profit 1: $88.00 (7% upside)
Upside
Take Profit 2: $100.00 (21% upside)
Risk
Stop Loss: $78.50 -5%
Sbux- The StratPosted right before entering. Here is the completed trade. Was maybe 10min total. Still running. Need to work on patience with the exits.
Check out Rob Smith on Twitter for more info on THE STRAT
Sbux- the StratHere's one I'm watching. Posting before I enter. What you need to watch out for is it's still an inside hr. Hopefully the 1-2 on the 15/30min triggers the 3-1 on the holy
sbux short CEO is a bullshiter price doesn't reflect reality . If you're long I think the Monthly chart will give you a better entry for the long term. My opinion always.
SBUX - Cup and HandleStarbux might see a small pull back in the trend channel to 77.53 and then rise further..
PT1 - 82.3
PT2 - 90.23
STOP 76
