Current trend

The shares of Starbucks Corp., one of the largest companies that owns the coffee shop chain of the same name, have been trading for the second month between 93.75 (Murrey level [6/8]) and 100.00 (Murrey level [8/8]). If the upper border of this range is broken, growth will be able to continue in the upper reversal zone around ​​106.25 (Murrey level [ 2/8]) and 112.50 (Murrey level [ 2/8], W1). After a consolidation below the reversal level of 93.75, it may reach the central mark of the Murrey trading range of 87.50 (Murrey level [4/8]) and 81.25 (Murrey level [2/8]).

Technical indicators do not give a single signal: Bollinger Bands are horizontal, MACD histogram is stable in the positive zone, and Stochastic is directed downwards. In these conditions, further consolidation within the specified range seems more likely, and significant movement will be possible only after exiting it.

Support and resistance

Resistance levels: 100.00, 106.25, 112.50.

Support levels: 93.75, 87.50, 81.25.

Trading tips

Long positions may be opened above 100.00, with the targets at 106.25, 112.50, and stop loss 96.15. Implementation period: 5–7 days.

Short positions may be opened below 93.75, with the targets at 87.50, and 81.25 and stop loss 98.30.