SBUX daily chart with targets

ISIN: US8552441094

Starbucks Corp. is an internationally active retail company and franchisor specialized in coffee products with headquarters in Seattle, USA. Starbucks buys, roasts and sells coffee beans through its own licensed coffee houses. The following analysis will expand on the company’s stock, which is listed in the Nasdaq, from a chart-related perspective.

 

Review (daily chart)

The downward trend was finally broken at the beginning of November, and since then, the company’s stock has been heading in one direction only. The confirmed upward trend and the dynamic upward strength indicate further price increases. The stock is currently in the correction, which makes it a potential long candidate with speculation on a continuation of the upward trend as soon as corresponding entry signals form.

SBUX daily chart with targets

SBUX daily chart with targets

 

Outlook (hourly chart)

In the hourly chart, we can see the correction that is currently underway, which has yet to develop in our preferred trading direction. For a long entry, one should wait for the formation of a signal, e.g. in the form of a P2, and place the stop loss under the last P3 (depicted in green). Alternatively, and with the advantage of a cheaper stop, one can also practice trading from out of the correction or the formation of a reversal bar at a significant point.

The targets are located in the areas around $60.00 to $61.00 as well as at $65.00 (see green, upper zones in daily chart). If the price considerably undercuts the last significant low at $55.75, one should abandon the long scenario for the time being (see lower red zone).

SBUX hourly chart with outlook

SBUX hourly chart with outlook

 

Before trading, one should take news from the environment and from the company into account. Similarly, one should also observe the development of the overall market.

 

 

 

Disclosure of possible conflicts of interest: at the time of publishing this analysis, the author is not invested in the securities or underlyings discussed.

Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer’s investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. It is expressly advised to observe our usage regulations and risk information, available under the link Legal Information on this internet page.