SBUX of late has been in a descending channel and has sloped down heavily in April.
It is now in deep undervalued and overbought territory at the bottom of the channel and
above the 3rd lower VWAP band line. The RSI lines ( both faster and slower) are bearish as
well. My trade plan is to watch Starbucks for a reversal which may be signaled by
bullish...
GIS a consumer staples is set up long and is a good defensive play for recession or black swan
events. The idea is on the chart. I am long since the first of the year. Adding for small dips
on the daily or 180 minute chart. Food is about as basic as it gets. GIS is a market leader.
TSN idea also. What about McDonalds?
TSN is shown on a reliable weekly chart- long idea from an inverted H & S and multiple
indicators. Stop is 51 targets are on the chart . If the fan gets hit, food is queen while
cash is king.
