SBUX is trading at some pretty significant lows and seems to be in a small little accumulation channel at the 55.50 to 54.10 level during the past week.
I am looking to get into the following position:
Trigger: $54.54
Stop: $52.50 (conservative)
Target: 59.08
If this trade gets triggered in and either breaks the the 54.10 support level or does not begin an upward trend by June 10th I will move my stop up and look to exit aggressively.
I am looking to get into the following position:
Trigger: $54.54
Stop: $52.50 (conservative)
Target: 59.08
If this trade gets triggered in and either breaks the the 54.10 support level or does not begin an upward trend by June 10th I will move my stop up and look to exit aggressively.
Trade active:
Triggered in today and was lucky also have the bullish news of a partnership with distribution powerhouse Anheuser-Busch InBev.
With the way the markets been acting lately, I am worried that the news is not more bullish in postmarket data but the plan is in place. We have bought at support and are in a low risk trade with a namebrand stock
With the way the markets been acting lately, I am worried that the news is not more bullish in postmarket data but the plan is in place. We have bought at support and are in a low risk trade with a namebrand stock