| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 94.75 |
| Take Profit | 100.00, 103.12 |
| Stop Loss | 92.00 |
| Key Levels | 75.00, 81.25, 87.50, 93.75, 100.00, 103.12 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 92.00 |
| Take Profit | 81.25, 75.00 |
| Stop Loss | 91.30 |
| Key Levels | 75.00, 81.25, 87.50, 93.75, 100.00, 103.12 |
Current trend
The shares of Starbucks Corp., one of the largest companies that owns the coffee shop chain of the same name, have been actively growing this month. During this time, the price has reversed from the lower border of the main Murrey trading range of 75.00 (Murrey level [0/8]), moved into its positive part, and is now testing the reversal mark of 93.75 (Murrey level [6/8]). The consolidation above will allow it to reach the area of 100.00 (Murrey level [8/8]) and 103.12 (Murrey level [ 1/8]). In case of consolidation below the central level of the trading range at 87.50 (Murrey level [4/8]) will ensure the resumption of the decline to the area of 81.25 (Murrey level [2/8]) and 75.00 (Murrey level [0/8]).
Technical indicators point to the continuation of the upward trend: Bollinger bands are directed upwards, the MACD histogram is stable in the negative zone, and Stochastic is reversing upwards from the oversold zone.
Support and resistance
Resistance levels: 93.75, 100.00, 103.12.
Support levels: 87.50, 81.25, 75.00.
Trading tips
Long positions may be opened from 94.75, with the targets at 100.00, 103.12, and stop loss 92.00. Implementation period: 5–7 days.
Short positions may be opened below the 87.50 mark, with the targets at 81.25, 75.00, and stop loss 91.30.
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