octradr
Long

Starbucks in a slump

BATS:SBUX   STARBUCKS CORP
139 6 0
Starbucks             has been going up since 2009 and is currently undergoing a correction.
Earnings aren't until April 24th so there is a lot of time.
The dashed line is holding as resistance and once this is defeated expect the uptrend to continue.

Right now I would short as close to this line as possible and see where it takes us.
timwest PRO
2 years ago
Just a note - but mark your idea a "SHORT" instead of a "LONG" to avoid any confusion. Also, SBUX just reported earnings that were pretty disappointing from my perspective especially when considering low coffee and sugar prices. Just my perspective. I agree with your short strategy around that $76-77 level. Nice idea. Good luck. Tim
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Nashwan
2 years ago
short deeply yes
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vaicru PRO
2 years ago
And now ?

Short !!!
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octradr vaicru
2 years ago
Been pretty bullish. May be too early. Keep stops around 76.25 if you do. 2/10 b4 close
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octradr octradr
2 years ago
EMA's just crossed to the upside on the hourly and they are close on the daily. Shorts be careful and now would be a good entry into a long position with support around 73.50. 2/13 b4 close
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octradr
2 years ago
It is at resistance again. Let's see if it pushes through or collapses. If it doesn't push through I would expect a long downward turn. 3/10
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