Starbucks testing support at 52ish
Technically speaking
A weekly close below the 52 level and the 100 WMA would likely put in play the 200 WMA currently around 44 as the next downside target.
Strategy
For longs-Buy here around 52.80 with a stop under 50ish. Targeting last years high print around 64. Below 50, more downside is likely.
A weekly close below the 52 level and the 100 WMA would likely put in play the 200 WMA currently around 44 as the next downside target.
Strategy
For longs-Buy here around 52.80 with a stop under 50ish. Targeting last years high print around 64. Below 50, more downside is likely.
Note
Starbucks has held the 52 level. As long as that level holds, I like the potential upside.I would exit below 47.50.
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.