On the Starbucks chart we can see a pretty nice harmonic pattern - Bearish Bat. From the PRZ we might see a rejection back to 51.27. The 20 periods average volume is descending for the up move that got the price in the potential reversal zone, and this could be a good signal for this theory. A close over the marked zone would invalidate the pattern, and signal a...
Adding to Chart Sugar's keen observations, I see this more plainly as a descending channel. If price rises to that descending upper line, one might short SBUX to the $43 target shown.
Chart Sugar : $SBUX : This fascination wth pendants has me measuring them against gaps. Can flags assist in timing assured shorts over the four step down concept? We see here in $SBUX that the 2nd or middle flag was strong YET failed to fill the prior gap. Follow me here or twitter @BeautyBubble.
