NASDAQ:SBUX   STARBUCKS CORP
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5
Testing out this trend indicator. The RSI alarms have all been triggered, with both the monthly and weekly triggered recently. The target would be the yearly pivot around $60. Volume has been dropping steadily since the June '18 correction and the Nov/Dec '18 overall market correction. I read this as the trend becoming exhausted and going to threaten reversal. If I were trading this, I would make sure I had enough time to let it play out.

Monthly for comparison


Daily for comparison

Comments

Nice ! did you write that indicator? It's cool at hell! This stock is at like a 65-70 degree angle on the monthly.
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@In33muney, I did write it. It's pretty simple. Creates a triangle when RSI re-enters the middle channel. Otherwise it colors the bars if price action is above hidden moving averages and RSI is above or below 50.

Obviously the trade wouldnt have been a good one, but writing the indicator is good practice anyway.
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