Solid News

Starbucks Corp. Technical Analysis

3/23/2023 10:17 AM

The shares of Starbucks Corp., one of the largest companies in the world, which owns the chain of coffee houses of the same name, are moving within a corrective trend at 99.00.

On the daily chart, the price moves within the global ascending channel with dynamic boundaries of 116.00–97.00, approaching the support line at 96.00.

On the four-hour chart, it can be seen that the potential for a downward movement still prevails, as evidenced by the possible formation of the global Head and shoulders reversal pattern with the Neckline at 97.00, and the formation of its second Shoulder will begin soon.

Technical indicators keep a sell signal: fast EMAs on the Alligator indicator are below the signal line, keeping a stable fluctuation range width, and the AO histogram forms corrective bars in the sell zone.

Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023