Since March, Starbucks (
SBUX) has been in a sustained downtrend, gradually rounding out a base. Now, the chart is showing early signs of a trend reversal.
Yesterday, price broke out of a bull flag formation on the daily chart and is now testing the $95.50 zone — a critical neckline level of a cup and handle pattern.
✅ Bullish Scenario:
A clean break and hold above $95.50 would confirm the cup-and-handle breakout.
If confirmed, this setup could target a measured move that eventually retests all-time highs.
More conservative traders may want to wait for a back test of the $95.50 neckline as confirmation, especially given its past historical significance.
⚠️ Bearish Invalidation:
A break and hold below $95.50 would invalidate the cup-and-handle pattern, suggesting the breakout has failed.
📌 This is a purely technical idea. No fundamentals involved.
As always, Happy Hunting!
This is not financial advice. Always do your own due diligence
SBUX) has been in a sustained downtrend, gradually rounding out a base. Now, the chart is showing early signs of a trend reversal.Yesterday, price broke out of a bull flag formation on the daily chart and is now testing the $95.50 zone — a critical neckline level of a cup and handle pattern.
✅ Bullish Scenario:
A clean break and hold above $95.50 would confirm the cup-and-handle breakout.
If confirmed, this setup could target a measured move that eventually retests all-time highs.
More conservative traders may want to wait for a back test of the $95.50 neckline as confirmation, especially given its past historical significance.
⚠️ Bearish Invalidation:
A break and hold below $95.50 would invalidate the cup-and-handle pattern, suggesting the breakout has failed.
📌 This is a purely technical idea. No fundamentals involved.
As always, Happy Hunting!
This is not financial advice. Always do your own due diligence
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.