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Starbucks Corp.: technical analysis 06.11.2024

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on Starbucks Corp. for a better understanding of the current market situation and more efficient trading.

The shares of Starbucks Corp., owning the coffee shop chain of the same name and being one of the largest companies, are trading at 97.00.

On the daily chart, the price is correcting, and after the formation of the price gap of 90.90–77.00, a long-term sideways range is developing.

On the four-hour chart, the quotes are moving within the channel 99.00–90.00. Despite keeping the potential for continued growth, the asset still cannot break the resistance level of 99.00.

Technical indicators slow down the buy signal: fast EMA on the Alligator indicator narrows the range of fluctuations above the signal line, and the AO histogram forms correction bars in the buy zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 99.00, with the target at 107.00. Stop loss is 95.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 94.30, with the target at 90.00. Stop loss is 96.00.

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Use the current recommendations of analysts on Starbucks Corp. and trade efficiently with NPBFX.