Hi traders,
Taking a closer look at the Starbucks Corporation (SBUX) we can observe that the price has been in a downtrend since middle of July 2021 approaching a key support level which has been tested many times before in the past . A solid bounce from the support line can be expected therefore it may be a good time to enter a long position at the support - green line. The first target is at the horizontal resistance line with a final target at the downward trendline .
Taking a closer look at the Starbucks Corporation (SBUX) we can observe that the price has been in a downtrend since middle of July 2021 approaching a key support level which has been tested many times before in the past . A solid bounce from the support line can be expected therefore it may be a good time to enter a long position at the support - green line. The first target is at the horizontal resistance line with a final target at the downward trendline .
Note
20 % pump in 1 day but still under the upsloping resistance lineNote
Divergences on the lower time frame. Expecting a drop. Feel free to check the 1h time frame analysis.
💥 Free signals and ideas ➡ t.me/vfinvestment
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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.
💥 Free signals and ideas ➡ t.me/vfinvestment
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.