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Starbucks Corp., Technical Analysis

3/6/2023 10:01 AM

The shares of Starbucks Corp., one of the largest companies in the world that owns the chain of coffee houses of the same name, are trading in a corrective trend at 105.00.

On the daily chart, the price is moving within an ascending channel with dynamic boundaries 116.00–98.00, approaching the support line.

On the four-hour chart, it is clear that despite the local correction, the potential for a downward movement prevails, as evidenced by the presence of a reversal pattern Head and shoulders with the Neckline line around 103.00, which is now working out.

Technical indicators maintain a stable sell signal: fast EMAs on the Alligator indicator keep a wide range of fluctuations, moving away from the signal line, and the AO histogram forms rising bars in the sell zone.




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