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Starbucks Corp., Technical Analysis
2/15/2023 10:08 AMThe 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 108.00.
On the daily chart, the price is rising within the global ascending channel with dynamic boundaries 116.00–99.00, having consolidated yesterday, last week's local high of 108.00.
On the four-hour chart, it can be seen that although the quotes are near the channel resistance line, the potential for upward dynamics remains high, and the target level of 116.00 can be reached soon. For the final confidence in the continued growth of the asset, it remains to overcome the local high of the end of January around 110.00.
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, and the AO histogram forms new upward bars in the buying zone.
