Starbucks heading to the sun to $113.42!Cup and Handle on Starbucks formed, broke up and out of it and is heading up.
The moving averages are super bullish 7>21>200
Target $113.42
CONCERNS:
The handle has formed gaps which is not good for TA as gaps close 70% of the time. This makes it a Medium probability trade where I only risk 1.5%
SRB trade ideas
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
SBUX 9/25/2022SBUX
Skip the $6 latte
After the formation of Head and Shoulders pattern between Apr.’21-Dec.’21, price broke down and entered downtrend in Jan.’22
Price continued its downslide from 109.00 to 71.00 where it found support.
Price pulled back in form of a channel to about 90.00 where it’s now rejecting the 200ema.
We also have a bearish MACD divergence with the price action meaning the pullback move is losing momentum.
Price has not broke down from the pullback channel it is in but the bearish MACD divergence is signaling the breakdown might be coming soon and continuation of downtrend.
Entering trade short.
Entry: 84.17
Stop loss: 95.79
Target: 71.25, +15.33%, 1.11 RR ratio
Starbucks: Diamond??it seems to be forming a diamond, on the weekly it looks like a symmetrical continuation triangle, there is no resistance on the weekly, the two gaps of Nov 20 and the island reversal of the end of March 21 could help in establishing a BreakOut
I also don't rule out a bearish reversal H&S, the volumes initially made me think about that
SBUX Make or Break MomentHey everybody,
Starbucks formed the famous golden cross pattern seven days ago. Now the stock is sitting exactly on both the 50 and 200 MA. A breakdown could send the stock back down to the $75 area. A break above likely has this stock trading in the $100 area before the end of the year. Curious to hear your thoughts on this one.
SBUX - Golden CrossSBUX just had a golden cross! (50day MA crossing above 200day MA). Could still be volatile as the 200day MA will take some time to flatten out and turn up. Stop loss should be about $1 below the recent pivot low of $83
Watch out for earnings nearer end of this month. Could be prudent to take some profits before earnings announcements.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
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
SBUX 6/7/2022SBUX
Starbucks will go down with its $4 cup of regular coffee.
After its Uptrend topped out April’21, SBUX entered a sideways market. This sideways market took form of a Head & Shoulders pattern.
Jan.’22, price broke down from this range. It confirmed the Head & Shoulder pattern as well as the Distribution stage. Price to enter a downtrend.
During the downtrend, price has been respecting the Dynamic Resistance of 50 ema. Anytime we have a downtrend, a pullback to the dynamic resistance, and have a Overbought Stochastic signal, this has been our entry to short.
March 30th,’22 was our 1st entry.
Currently, we have pulled back to dynamic resistance and have Overbought stochastic. Will be entering trade short
Entering trade short
Entry: 79.58
Stoploss: 84.22
Target: 62.26, 21.27%, 3.27 RR ratio
SBUX – Stage 2 Breakout AttemptSBUX is making the Stage 2 breakout attempt this week on approaching 2x the average weekly volume, with Relative Strength (RS) strongly outperforming the S&P 500 and the Stage Analysis Technical Attributes (SATA) indicator increasing to an 8 out of 10 on Wednesday on the breakout day. But it has fallen back to a SATA 8 today on the general market weakness, but price action is holding above the breakout with an inside day so far.
The indicators shown are three different style versions of the Stage Analysis Technical Attributes indicator, which is available to add in the community scripts.