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!