Starbucks Corp., H4

On the H4 chart of shares of Starbucks Corp., one of the largest companies that owns the coffee chain of the same name, there is a mixed dynamics of quotes: at the resistance level of 98.62, a "Bear Engulfing Pattern" is formed, which signals a downward price reversal, however, after reaching the key support level of 90.26, the trading instrument rushed upward, forming "bullish" formations "Hammer" and "Bull Belt-Hold Line". In the current situation, the "bulls" are likely to continue attempts to restore the price to the resistance level of 95.38, overcoming which will allow reaching the area of 98.62–105.68, but if the "bears" consolidate below the level of 90.26, the decline will intensify to 87.02–79.25.

Starbucks Corp., D1

On the D1 chart, in the price range of 98.62–93.44, the figures "Bear Engulfing Pattern" and "Shooting Star" have formed, which signal pressure from sellers. Nevertheless, in the area of the 90.26 support level, a "Rickshaw Man" pattern is being built, confirming the continuing uncertainty in the market and potentially warning of an upward price reversal. Overcoming the resistance level of 95.38 will be a catalyst for opening long positions with targets in the area of 98.62–105.68.

Support and resistance

Support levels: 90.26, 87.02, 83.19, 79.25.

Resistance levels: 95.38, 98.62, 102.34, 105.68.

Trading tips

Long positions can be opened above the 95.38 mark with targets of 98.62, 102.34, 105.68. Stop-loss – 93.44. Implementation period: 7 days and more.

Short positions can be opened below the level of 90.26 with targets of 87.02, 83.19, 79.25. Stop-loss – 92.09.