SBUX is nearing its 50 EMA after a mildly bullish rune since early July. If SBUX crosses the EMA 50, I will look for a bearish break out. Otherwise, I will look to buy the bounce.
This idea and analysis is part of a 3-month trading challenge in which I am only using the EMA 50 to indicate trades.
SBUX opened on a bearish retest gap today making it the third in a row of its kind. This trend is starting to look bearish in all accounts. Depending on how it closes the day, I may plot out some possible entries on it tomorrow. 3AUG16