Starbucks; getting Luke warm at best...SBUX ; we enjoyed the long above 65.26 and anticipated heavy resistance into the 68 area... but with the market pulling back profit was taken on our calls and puts were loaded. Below 65.26 we have room to gap downwards. Careful bulls, we want 59.71 to prove itself on the pullback and below this point 57.6
SBUX trade ideas
SBUX Distribution Trading RangeSBUX looks poised for a massive drop as it sits atop what appears to an Upthrust After Distribution (UTAD). Typically UTADs are caused by short squeezing early bears. In our case, the UTAD was caused by a failed H/S pattern that initially broke downwards (to lure in the bears), and then quickly returned to the top of the Trading Range to then short squeeze the market. I am looking for a short position here and using a potential daily BBands M top setup to time my entry. This is a multi-year Trading Range so this thing is likely going to be a great source of action in the coming months.
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1 indicator to beat SBUXit's mainly for swing trading, i use the 3 day / 15 day / monthly charts with it and it works perfectly,
it works good for stocks and cryptocurrency.
you will use heiken ashi chart style and turn on the EMA DOTS indicator.
once the indicator is on you will hide the heiken ashi so you only see the dots.
when a green dot appears you buy, if a green dot appears after that green dot you hold your investment.
if a red dot appears you sell your position. easy as that.
shorter time frames will be choppy.
larger time frames will be smooth.
STARBUCKS: ENCOURAGING MOMENTUM IMPLIES MORE POTENTIAL REBOUNDMarket sentiment remains encouraging despite the recent “Bearish Harami” pattern, MA lines point towards positive outlook (blue above red), The 14-day RSI indicator suggests further upside moves above the 50-pt mark: No end to the buying activities yet.
(Disclaimer: All the information are mean for educational and informational purposes only, and is made available to you as self-help tools for your own use. This is not intended to be a substitute for professional financial advice.)
SBUX Holding Bullish ChannelSBUX is holding the support of the bullish channel that began in July.
I am anticipating a recovery to $58+ before their earnings announcement on 11/1.
The content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice.
-Wextini