weekly levels on starbucks

115 1 3
We were discussing coffee             on in the vent trading room.. it very hard to not discuss starbucks             when you talk coffee             , they are the titan of distribution. (think mining stocks and metals)

So on a weekly time frame , you have a pretty well testing bottom level but an ascending top level.they a 1 cent surprise last and a higher dividend yield. it also barely sold off on earning announcement which is usually very bullish in stocks. (normal pattern is earning release, sell , buy back after dividend)

The chart pattern itself generally would qualify as an ascending wedge/ bull pennant . Stochastic is ahead of the MA by a large margin, which is also usually really bullish .

I am a little suspicious though for a long term hold. its really following the index price line right now , ref: $NQ. So i have to wonder how much of this 6 dollar gain is the index and not the company itself. However, US dollar             is in bull mode and everything balanced in USD gets to take advantage of that, this includes stocks.

A safe trades might be:
- buy the break out at 58.19 w/ a stop at 57.35
- wait for a level test and buy like ~ 57.10 stop like 56.5
and if you really want to
- short the descending trend line stop like 58.5


Comment: one of the safe trades has been entered
Comment: was stopped @ 59 on this trade. bad news issued.
thanks for the analysis
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