Starbucks has recently completed its dark green wave in our Target Zone (between $86.38 and $68.39) and should now be wide awake and ready for renewed rises above $89.73. The price has already worked its way upward step by step. However, we consider it 37% likely that SBUX will breach the bottom of our Zone to head for another corrective low.
SBUX
W1 - The 4th wave is forming, which can lead to a continuation of the downward movement, but it is also clear that the price, after fixing the level, has formed a reversal pattern on D1, which can lead to a strong correction.
D1 - Formation of a three-wave structure, you can try to consider buying from the level of 94.00. Locally to levels 101.76. If...
Here is one of my most explosive setups, the Pinbar. A bullish Pinbar on a HTF chart tells us that sellers tried pushing price lower but failed miserably due to a strong surge in buyers taking control and this is also confirmed by the CVol + The inverse head and shoulders on the LTF (5m). If you look at the 5m charts volume the last bar was much more noticeably...
SBUX appears to be in a repeating downtrend from Summer 2021 to Spring 2022. It would be ideal to utilize AI to predict how low SBUX will retrace. However, for the purpose of technical analysis (TA) and trend observation, I'm sharing indicators such as RSI, MACD, and AO, which suggest a high possibility of SBUX repeating the downtrend.
Over the next three months...
It has to be said that Starbucks doesn't look good at all in the monthly timeframe. If the formation works, it will be possible to see the level of 63 dollars in the summer months. Approaching or crossing the $120 level means formation cancellation.
After touching our price target here:
Starbucks Corporation (SBUX) is in line with earnings expectations:
Revenue: $7.6 billion vs $7.62 billion expected
Adj. EPS: $0.59 vs $0.60 expected
U.S. same-store sales: 12.00% vs 8.90% expected
International same-store sales: -8.00% vs 1.87% expected
The China threat to SBUX is not over yet in my opinion, the U.S....
China represents 45%-55% of Starbucks’ international sales and 10%-13% of aggregate sales!
The U.S. warning China it could face devastating sanctions if it defies the ban on doing business with Russia!
This is a move that could have huge impact on American companies.
My price target for SBUX is $72.
Looking forward to read your opinion about this.
Technical Analysis Summary
SBUX/USD
TREND ANALYSIS
We have 1 Downtrend in red color
We have 1 uptrend in green color
All yellow trends are trends from the past I added the just to show you why starbucks started moving down from the trend prespective.
FUTURE PREDICTIONS
We have many resistance and support levels that I have mentioned above.
I use thickness as an...
