Starbucks gapped down on earnings recently. Price retraced to the 20EMA area. Volumes recently below average. If it can make a lower low and lower close below the 20EMA it can provide a bearish opportunity
On point, what was your target? Im waiting for an opportunity to jump in after the retracement for a call option. I also posted SBUX when it reached this resistance, and was waiting for either a breakthrough or a good time to buy on the dip. Seems like 55.50 might be a good time, whats your opinion?
@ntourney777, I'm looking this on the bearish / short side. At the 20EMA level, I was looking for a spot to buy an in the money put. Holding for a maximum 10 days or if it dips to $54.50. (stop would be exiting if it runs up to $58)