Solid News

Starbucks Corp., Technical Analysis

1/17/2023 10:03 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 within a corrective trend at 107.00.

On the daily chart, the price is growing within the local ascending channel with dynamic boundaries of 117.00–102.00, having consolidated above the local high of last year around 104.00 yesterday.

On the four-hour chart, it can be seen that to continue a full-fledged upward momentum, quotes need to break the initial trend of 61.8% on the Fibonacci extension around 109.00, then, they will be able to reach the underlying trend of 100.0% on the Fibonacci extension around 117.00.

Technical indicators maintain a stable buy signal: fast EMAs on the Alligator indicator keep a wide range of fluctuations, moving away from the signal line. The AO oscillator histogram forms upward bars in the buying zone.

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