Solid News

Starbucks Corp., Technical Analysis

9/14/2022 11:37 AM

Shares of Starbucks Corp., one of the largest companies in the world, which owns the chain of coffee houses of the same name, are moving in a corrective trend around the 88.00 mark.

On the daily chart of the asset, the price has left the global downwards channel, having consolidated above the initial Fibonacci correction of 23.6% around 81.80, and is correcting upwards.

On the four-hour time interval, the local growth develops within the ascending channel with dynamic boundaries at 83.00–95.00. The key “bullish” resistance is the base Fibonacci 38.2% retracement at 88.70, after which the positive dynamics may continue until reaching the 61.8% full retracement at 100.00.

Technical indicators maintain a buy signal: fast EMAs on the Alligator indicator are above the signal line and continue to move away, while the AO oscillator histogram forms rising bars in the buying zone.

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