Starbucks: Home stretch!

We now see the Starbucks stock in the final stage of the magenta-colored wave (1). Primarily, we still grant this movement some room to the upside, but from a technical perspective, the high of September 12 could already have marked the top. This alternative scenario (35% likely) will come into play on a drop below the support at $90.18 and would see a dive into our magenta Target Zone (between $85.52 and $77.52).