Can SBUX rise from beating beaten down 15% YTD ?
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 divergence on the RSI. SBUX has fallen through a volume void under the high volume
area. Once it reverses it could rise fairly quickly to 90 and then slower to 94. These will be
the targets.
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 divergence on the RSI. SBUX has fallen through a volume void under the high volume
area. Once it reverses it could rise fairly quickly to 90 and then slower to 94. These will be
the targets.
Сделка активна:
Nice onset of bullish momentum today finally:
Комментарий:
SBUX now at a 50% retracement of the prior waterfall. From here will follow the price action. If it can get over the Fib Levels will add otherwise will not add until a pullback correction is seen.
as shorts bought to take profit and covre or close. This will be a good place to
enter to begin to take a position at low pivots.