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andrewyu02

SBUX Short Idea - Multiple Fib extensions converging

Short
Starbucks Corporation (BATS:SBUX)  
andrewyu02 Updated   
BATS:SBUX   Starbucks Corporation
Wave Analysis
3
1
waveanalysis
SBUX looks set to start a wave down to around $83 after a sideways ABCDE correction:
- 1:1 extension of the move down from 16 Nov 2023 to 17 Jan 2024
- 1:1 extension of the larger move down from 1st May 2023 to 3rd Oct 2023
- $83 is also strong support from previous consolidation in 2022
Comment:
Price has almost hit the target
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