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UnknownUnicorn6775423
Aug 7, 2020 2:22 PM

Starbucks (SBUX) - Hangs Around 21 EMA Long

Starbucks CorporationNASDAQ

Description

As you all know, I regularly post pullback trade ideas as stocks pullback to their 21 day EMA. Today, I am looking at Starbucks NASDAQ:SBUX. What's different about this pullback is that Starbucks usually doesnt hang out at the 21 for more than a day or two. However, its been 4 days... so I wonder if the powers that be are on to us! ... just kidding. But in all seriousness, I like this chart. I think that it really shows that support at the 21 EMA is being tested hard and should SBUX close the day out above the 21 EMA or even the 8 EMA on the daily chart (putting it in the Green), then I think next week we could see SBUX go even higher.
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