Solid News

Shares of Starbucks Corp., one of the largest companies in the world that owns the coffee chain of the same name, are moving in a long-term upward trend. This week, the price has reached a pivot level of 106.25 (Murrey level [6/8]), but it cannot break above it yet due to investors' caution caused by the uncertainty of further actions by the US Federal Reserve. If successful, the growth of quotations will continue to 109.38 (Murrey's level [7/8]) and 112.50 (Murrey's level [8/8]). The key "bearish" level is 100.00 in the center of Murrey's trading range and supported by the middle line of Bollinger bands, the breakdown of which will give the prospect of a decline to the targets of 96.88 (Murrey's level [3/8]) and 93.75 (Murrey's level [2/8]).

Technical indicators confirm the continued uptrend: Bollinger bands are reversing upwards, MACD is increasing in the positive zone, but Stochastic is getting ready to leave the overbought zone, which does not exclude a limited corrective decline.

Resistance levels: 106.25, 109.38, 112.50. | Support levels: 100.00, 96.88, 93.75.