Solid News

Starbucks Corp., Murrey Levels Analysis

9/1/2022 3:19 PM

For the second week, the shares of Starbucks Corp., one of the largest companies in the world selling coffee, have been correcting downwards against the medium-term uptrend.

Now, the price is at the lower border of the central channel of the Murrey trading range, 84.38 ([3/8]), but for a stable continuation of the decline, the quotes will need to break the pivot level of 81.25 ([2/8]), and then the “bearish” will be 75.00 ([0/8]) and 71.88 ([–1/8]). After the consolidation above 84.38, the asset will return to the central Murrey channel. It will be able to resume growth to its upper border of 90.62 ([5/8]) and further to 93.75 ([6/8]), 96.88 ([7/8]), but for a serious confirmation of the continuation of the upward trend, the quotes will need to consolidate above the central level of the Murrey trading range 87.50 ([4/8]), supported by the middle line of Bollinger bands.

Technical indicators do not give a single signal: the transition of Bollinger bands to horizontal movement and the decrease in the MACD histogram in the positive zone indicate the possibility of a change in the uptrend, but the reversal of Stochastic upwards from the oversold zone does not exclude continued growth.

Resistance levels: 84.38, 87.50, 90.62, 93.75, 96.88. | Support levels: 81.25, 78.12, 75.00.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023