- Starbucks broke the support area
- Likely to fall to support level 76.15
Starbucks recently broke the support area between the support level 85.00 (which stopped 2 earlier waves – 1 and i) and the 50% Fibonacci correction of the upward impulse wave 1 from April.
The breakout of this support area accelerated the active impulse wave c of the medium-term ABC correction 2 from the end of July.
Given the multi-month downtrend, Starbucks can be expected to fall to the next support level 76.15 (former low of waves A and (2)).
By the FxPro Analyst Team
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.