Significant technicals can be seen marked on the weekly chart (left). Trend lines A & B form an expanding wedge that started in 2008/09; the market briefly breaks out of the pattern, and makes highs in 2015. From there it moves in an overall sideways consolidation, potentially another expanding wedge, bound by trend lines C […]
Coming from a lift that ran from $3.75 in 2009 to $64.00 in 2015, SBUX has been consolidating (roughly) between $52.00 – $62.00 since. Looking at the weekly chart, a wedge pattern from the high in 2015 can be seen and it has been recently broken (March 27th, 2017). As well as the wedge […]
Consolidation between two blue s/r zones can be seen – watching for reversal. Breaking down through supports (s/r zone & channels) could see a significant drop to the next blue s/r zone, down around $42.00. Several weekly Fib levels can be seen on the way down and these should be watched for support.
