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 within a corrective trend around 98.00.
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.
On the four-hour chart, the range resistance line coincides with the Fibonacci 61.8% full retracement level at 99.50, consolidation above, which means the correction will enter the trend stage, indicating a new global target at 106.60. The quotes decline looks unlikely, but it will become possible if the trading instrument consolidates below an intermediate correction of 50.0% Fibonacci around 93.80.
Technical indicators maintain a stable buy signal: fast EMAs on the Alligator indicator expand the range of fluctuations, moving away from the signal line, and the AO oscillator histogram forms upward bars in the buying zone.