SBUX Making Higher Low's, Possible Breakout With Momo
Updated
Sbux recently announced good news from opening more stores, good sales on ice coffees and more. That catalyst pumped it to new ATH's and it's found new support at $100 phsych level. After some consolidation it's created a new support at the $107 mark and is set to go for a new ATH if momo continues. Possible catalyst academia season back in session should help with Q1 numbers if vaccine rollout get's better and schools announce on site requirement for students.
Alert set at 107.75
Entry over 108.10 at 15m candle close
Breakout Target 110.00
Alert set at 107.75
Entry over 108.10 at 15m candle close
Breakout Target 110.00
Note
The market sell off didn't help the case. The new $100 support is strong and can see big upside on leaps. Still long on this position, waiting for entry.
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.