Solid News

The 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 at 96.00.

On the daily chart, the price is near the resistance line of the global correctional channel with dynamic boundaries 85.00–100.00, getting ready to break it.

The 4-hour chart shows that the channel resistance line coincides with the Fibonacci 61.8% full retracement level at 98.60, consolidation above, which means that the correction has entered the trend stage, and the next target will be 105.00. The quote decline looks unlikely, but it is possible if it consolidates below the intermediate correction level of 50.0% Fibonacci around 93.00.

Technical indicators reversed and gave a buy signal: fast EMAs on the Alligator indicator crossed the signal line upwards, and the AO oscillator histogram is forming upward bars in the buying zone.