SBUX trade ideas
Starbucks to begin markdownNASDAQ:SBUX has broken through the ICE and left distribution range to begin the markdown.
Short orders at LPS.
Over-reaction to negative sentiments or a major reversal?With the current 2-day high-percentage decline on significant volume, combined with the breach of the often-tested support level of ~$53, NASDAQ:SBUX seems to be at the beginning stages of a major correction.
In the absence of some positive news in the near future, I see the next major support area to be near $43.70.
SBUX buy the dip?Selling a 1 lot at the 50 strike for 1.32 and 93 D.T.E. for an initial basis of 48.68 which is the 34 delta strike. Probability of profit is 70% and even though their customers are all addicted to the product I am not convinced I want this stock and may just treat this as a trade. A put ratio could not be placed for a credit (5 wide strikes) so this is where I will start my position. Volatility is high enough at 53% but it says earnings are July 26......since it has dropped $5 today I am assuming they have pre-announced and maybe earnings will be a non-event?? Wish me luck.
$SBUX - Time to Cut Back On CaffeineI remember buying this stock back in 2012 at around 30/shr and held it through the bull run. It's sad to see this drop so much in such a short period of time. With the rising cost of coffee and the cutback in construction, I am assuming there will be weak guidance for this upcoming ER.
Next week, we may see an ER run up to the 38% - 61% fib before the next drop.
My plan is to purchase calls first thing Monday and enjoy one last run, and short it back on the way down to $43 (or even lower). For now, I'm marking this short- term "LONG" until it finishes the retracement.
SBUX weekly. Its time to sellIt looks like the SBUX is one of the first stocks from S&P500 which is ready for a severe and long-term correction. I'm not sure yet, but I do not expect SBUX can form any new major high. I'm looking to open a short position if the market gives me such opportunity...
P.S.
Please do not be confused. This is not pure Elliott Wave Analysis. This analysis is based on my fork of Elliot theory. The simplified concept of this fork is published here: plus.google.com
SBUX daily - bounce coming or cliff drop?Last week has been rough for SBUX having dropped $7 (12%) in a matter of 6 days. Now approaching the round level of $50 and losing its bear steam, we may see a short term bounce.
I've drawn a wedge down (bullish pattern) and would like to see a green day breaking this pattern before entering a short term long position with a stop below the $50 mark.
Now, I'm also fully prepared to go short have this break through that $50 mark as that would be very bearish and we may see the low $40's soon after.
Its a matter of waiting to see what happens.
Share your thoughts down below and happy trading :)
Starbucks might see a pick up right here
We hit the long term trend line right at the 50$ so for me it is in a support spot.
Lets see what happens and
May the markets be with us
STARBUCKS - CORRECTION AHEAD?
For this one it is very important to take note of that sloped yellow support line that has already held for longer than I initially thought! Only after breaking this line we can confirm a bigger correction.
Starbucks has made an amazing run all the way to above the 2.618 fib extension of wave 1!
It is obvious that this kind of growth is most likely not sustainable and we are in a quite overreached market still. Therefore I think we need to correct to the 0.382 fib level ($41.5) AT LEAST to remain in a healthy uptrend, much rather would I see even a 0.5 retracement ($34)!
Sidenote: There are other ways to count this, which is why I was very clear about that yellow support! Stay safe!
I hope this was helpful! Take care!
Starbucks: Multi-Layer Elliott Impulse Wave ExtensionsSimple Elliott Wave demonstration of multiple extensions within Starbucks price rise over the last Quarter-century. Expecting a possible correction of 35-50%, but anything can happen. Know your Elliott Wave rules and apply them!
Starbucks, good trading opportunity.After news release that Starbucks closes 150 coffeshops, we had 2 big selling days. Breaking through one confirmed trend line and now testing another big one from the beginning of the trend.
This could be a good buying opportunity to trade a bounce with a good risk-reward ratio, stop below the 50 or 49, 1st target at the previous trend line .
Alternatively a break below the 47.80 level would provide good confirmation for a short position to the next big support at 42.10, which is also the 38.2% retracement.
Happy Trading!
An over-reaction or a major trend reversal? With the significant 2-day decline on high volume, combined with the breach of the often-tested $53 area of support, NASDAQ:SBUX seems to have begun a major reversal.
In the absence of any positive news in the near future, I see a continuation of the downtrend towards the next support level of about $43.70.
STARBUCKS BUY CHINA MARKET EXPANSION + IDENTIFICATION OF PROBThis is going to sound weird but I recommend buying. Starbucks closing a lot of its outlets have caused a huge drop in stocks.
In all honesty, though, Starbucks has a very high chance of coming back from this, especially as they've started introducing new options and are now focused on doing better. They've identified multiple problems and are working on solving them. This really has the mark of a dedicated company and hence I'm quite confident in their future
Heck, they are currently opening a new outlet in China every 14 hours!! They are also opening new outlets all over the world including Italy. Targetting the international market will undoubtedly be good for the stock.
Therefore it might be smart to invest at this point due to the drop and then make a profit as the prices increase over time.
Please do this at your own risk though as the price could very well drop and some people may have no confidence in Starbucks. In that case, do go ahead and short!!
Again, as a complete amateur, likes/ feedback would be appreciated.
Placed an order to short StarbucksThis is on the weekly and the price took out the last significant support level, this will now. I still don't know what caused the price action but it doesn't matter cause I do what price tells me to do
SBUX AccumulationGood risk/reward point here on SBUX (even though their virtue signaling sucks)
Aug17 $52.5 short put @ $2.22.
4.23% ROC. I will likely take stock and wheel this trade if I have to.
surprise,i got subxA month, finally, i got SUBX short getting my first target. Congrats the people who see my previous analysis and short that stock.
Starbucks short entry3 exhaustive pushes over the Keltner Channel, now after playing around the middle line EMA 20 negative momentum gets the upper hand - more shadows to the upside and now a decisive push below EMA 20. Short entry below the red line
