SBUX was one of the better performers in the overall market. The long term trend is positive and the short term trend is neutral. On a yearly perfomance, it beat 71% of 57 stocks in the eating and drinking industry.
On the daily basis chart, we are starting to see a rounded bottom pattern to be formed recently. Basically, with a rounded bottom, the pattern is formed when stock falls to find a bottom then trades in a tight range, and the price starts to turn higher. Now, this is where you need to pay attention if you are looking to use this pattern.
Based on the Fib Retracement I draw from the chart, there is a resistant line at 87.54 that signals a interim pullbakcs may occur. And there is also a support line below the current price that also overlaped with the red uptrending line and middle band of Bollinger which I think could be a decent entry to go long for SBUX, a stop order could be placed below this zone.
Besides the ATR indicator indicates the volatility of SBUX has been compressed lately showing a diminishing on the risk, and uptrending directional index(+DI) keeps on strenthening its momentum to the upward. On the sector side, SBUX related consumer staples is rising but not on high optimism over past few trading session also gives a plus to SBUX.
On the daily basis chart, we are starting to see a rounded bottom pattern to be formed recently. Basically, with a rounded bottom, the pattern is formed when stock falls to find a bottom then trades in a tight range, and the price starts to turn higher. Now, this is where you need to pay attention if you are looking to use this pattern.
Based on the Fib Retracement I draw from the chart, there is a resistant line at 87.54 that signals a interim pullbakcs may occur. And there is also a support line below the current price that also overlaped with the red uptrending line and middle band of Bollinger which I think could be a decent entry to go long for SBUX, a stop order could be placed below this zone.
Besides the ATR indicator indicates the volatility of SBUX has been compressed lately showing a diminishing on the risk, and uptrending directional index(+DI) keeps on strenthening its momentum to the upward. On the sector side, SBUX related consumer staples is rising but not on high optimism over past few trading session also gives a plus to SBUX.