Starbucks: A Bearish Outlook
Starbucks completed a five-wave pattern at 103, with the price moving down clearly.
A large Rising Wedge pattern represents the fifth wave of the movement that began on May 2024 and finished at the end of November 2024
Currently, the price has broken through the support line of the pattern, indicating further decline.
After any small correction, we should see SBUX moving down to 88 and 82.5.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Starbucks completed a five-wave pattern at 103, with the price moving down clearly.
A large Rising Wedge pattern represents the fifth wave of the movement that began on May 2024 and finished at the end of November 2024
Currently, the price has broken through the support line of the pattern, indicating further decline.
After any small correction, we should see SBUX moving down to 88 and 82.5.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
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SBUX 92 so far