STARBUCKS (SBUX) | Buy when there's blood in the streets IV

NASDAQ:SBUX   Starbucks Corporation

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Starbucks , well-known coffee "producer", has started to approach a pretty significant support level . It consists of clean price action levels and in technical analysis clean = strong!

Many big companies have found resistance in the first attempt to break above the psychological number of $100 and many of them has found a new support level around 60. Hopefully, Starbucks is not an exception, luckily we have really great support waiting for us which allows jumping into another potential wave upwards!

"Buy when there's blood in the streets, even if the blood is your own." - technical analysis is perfect for that kind of market situation. Technical analysis gives you just a little bit more a sense of security: you had a plan, you have waited for some certain price levels, you have a long-term perspective about the company and you have done everything correctly to buy it - after that, your decision is on the hands of the market.

Technical analysis criteria are pointed $55 - $65:
1) 2015 and 2017 resistance levels become support.
2) Clean trendline and the support level make up a crossing area, a good sign!
3) Fibonacci retracement 38%
4) Fibo Extension 200%
5) Monthly Exponential Moving Average 100 (EMA100) adding strength to the marked area.

As said, do your own fundamental research and if this matching with my technical analysis viewpoints then you are ready to go! If it doesn't match then...skip it!!

Good luck,
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