dcattey

Starbucks Near-Term Bounce

NASDAQ:SBUX   Starbucks Corporation
SBUX looks like it could be setting up for a nice bounce back into the $86-87 range. Then, as long as we hold a higher low, onwards to $90-$92. Weekly & Monthly charts are still showing a need for further correction, however, I do believe there is opportunity for a relief rally here. There was a lot of buying into the close today. Lets see what happens in the morning. Break above $82.65- Bullish. Break below $81.25- Bearish. Have a couple short-term options positions open. Lottery positions, either i'll lose a little or gain a lot. I still expect to see $65-75 prices before christmas.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.