Starbucks: A Bearish Outlook
Starbucks completed a five-wave pattern at 103, with the price moving down clearly.
A large Rising Wedge pattern represents the fifth wave of the movement that began on May 2024 and finished at the end of November 2024
Currently, the price has broken through the support line of the pattern, indicating further decline.
After any small correction, we should see SBUX moving down to 88 and 82.5.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Starbucks completed a five-wave pattern at 103, with the price moving down clearly.
A large Rising Wedge pattern represents the fifth wave of the movement that began on May 2024 and finished at the end of November 2024
Currently, the price has broken through the support line of the pattern, indicating further decline.
After any small correction, we should see SBUX moving down to 88 and 82.5.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Trade active
SBUX 92 so farNote
88.90Note
The workers' union representing more than 10,000 Starbucks baristas said its members will strike at stores in Los Angeles, Chicago, and Seattle morning during the busy holiday season.Trade closed: target reached
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.