Solid News

Shares of Starbucks Corp., one of the largest coffee companies in the world, are moving in a corrective trend around 86.00.

The corporation is trying to resolve a difficult situation with workers' unions, which has been going on for more than six months: employees of more than 79 company stores in the United States, which Workers United provides, have expressed their desire to discuss issues of workplace safety, discrimination, and wage increases. The first meeting with the management of Starbucks Corp. was scheduled for the end of October.

The Q3 financial report will be published on November 3. Analysts forecast revenue of 8.33B dollars, up from 8.15B dollars in the previous quarter, but EPS could be well below 0.84 dollars earlier to hit 0.725 dollars, a significant headwind for the upside momentum of shares.

The trading instrument is moving in a local corrective trend, trying to consolidate above the base correction level of 38.2% Fibonacci.

Technical indicators remain uncertain: the range of EMA fluctuations on the Alligator indicator is narrowed almost completely, and on the AO oscillator, the histogram forms downward bars in the buying zone.

Resistance levels: 88.20, 93.80. | Support levels: 81.30, 73.70.