Solid News
Starbucks Corp. Technical Analysis
3/23/2023 10:17 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 99.00.
On the daily chart, the price moves within the global ascending channel with dynamic boundaries of 116.00–97.00, approaching the support line at 96.00.
On the four-hour chart, it can be seen that the potential for a downward movement still prevails, as evidenced by the possible formation of the global Head and shoulders reversal pattern with the Neckline at 97.00, and the formation of its second Shoulder will begin soon.
Technical indicators keep a sell signal: fast EMAs on the Alligator indicator are below the signal line, keeping a stable fluctuation range width, and the AO histogram forms corrective bars in the sell zone.
