TradingView
maschera
Apr 7, 2021 12:05 AM

SBUX - 11.08% Potential Profit - Bullish Pennant Long

Starbucks CorporationNASDAQ

Description

Here we go again, trying to manage one of the most challenging markets ever. Definitely the most challenging since my trading career started.

Bullish Pennant following a 4-month correction interrupting a massive bull run.

I am being very selective lately and I only trade when I see very limited risk, with potentially great rewards. This is why I like this setup.

- Target Entry $113.24
- Target Stop Loss $111.99
- Target Exit $126.31

About me
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss
Comments
ogdabber
Looks more like a bearish wedge to me... but if it retraces top and bounces back up, could be failed pattern (bearish wedge) and continue up with a squeeze... looking at volume and RSI to help figure out direction
More