Starbucks Corp. (SBUX/NASD): general review
07 September 2018, 13:06| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 54.50 |
| Take Profit | 55.70, 57.00, 58.00 |
| Stop Loss | 53.10 |
| Key Levels | 51.50, 52.50, 53.40, 54.40, 55.50, 57.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 52.40 |
| Take Profit | 51.00, 50.00 |
| Stop Loss | 53.50 |
| Key Levels | 51.50, 52.50, 53.40, 54.40, 55.50, 57.00 |
Current trend
Starbucks shares reached a new monthly high on September 6. The growth of the emitter's quotes from the June 52-week low was 12.77%. Starbucks announced the opening of the third premium store, Reserve Roastery in Milan. It plans to open 20-30 more new stores around the world. The strategy of Starbucks expansion into the world market with premium products is caused by the growing competition of coffee networks in the US.
During the previous week, Starbucks shares grew by 1.80%. S&P500 index went down by 1.20% during the same period.
Support and resistance
The company's shares continue to recover. Currently, the quotes of #SBUX are testing the local resistance level of 54.40. The closest support level is 53.40. The emitter has the potential to further growth.
Indicators don't give a clear signal: the price is testing MA (50); MACD histogram is located in the positive area and continues to rise. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors, we can say that #SBUX shares are undervalued.
Support levels: 53.40, 52.50, 51.50.
Resistance levels: 54.40, 55.50, 57.00.
Trading tips
If the price consolidates above the resistance level of 54.40, further growth of #SBUX quotes is possible. Potential profits should be locked in by orders at 55.70, 57.00, and 58.00. Stop loss – 53.10.
If the price consolidates below 52.50, one may consider selling the company's stock. The moving potential is aimed at the area of 51.00-50.00. Stop loss – 53.50.
Implementation time: 3 days.
Starbucks shares reached a new monthly high on September 6. The growth of the emitter's quotes from the June 52-week low was 12.77%. Starbucks announced the opening of the third premium store, Reserve Roastery in Milan. It plans to open 20-30 more new stores around the world. The strategy of Starbucks expansion into the world market with premium products is caused by the growing competition of coffee networks in the US.
During the previous week, Starbucks shares grew by 1.80%. S&P500 index went down by 1.20% during the same period.
Support and resistance
The company's shares continue to recover. Currently, the quotes of #SBUX are testing the local resistance level of 54.40. The closest support level is 53.40. The emitter has the potential to further growth.
Indicators don't give a clear signal: the price is testing MA (50); MACD histogram is located in the positive area and continues to rise. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors, we can say that #SBUX shares are undervalued.
Support levels: 53.40, 52.50, 51.50.
Resistance levels: 54.40, 55.50, 57.00.
Trading tips
If the price consolidates above the resistance level of 54.40, further growth of #SBUX quotes is possible. Potential profits should be locked in by orders at 55.70, 57.00, and 58.00. Stop loss – 53.10.
If the price consolidates below 52.50, one may consider selling the company's stock. The moving potential is aimed at the area of 51.00-50.00. Stop loss – 53.50.
Implementation time: 3 days.
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