$SBUX
Added 2023-12-05 18:58:20 +0000 UTCI am seeing online that a lot of people are surprised to see $SBUX have 12 red days in a row here, something that has not been seen since the start of 2022.
But we can see that it is merited because, when it broke out of the wedge in the middle of November, it pulled back for a retest, it was unsuccessful and dropped back into the wedge and lost the 200 Day MA next....this would trigger a lot of selling, so there is nothing to be surprised about here.
$SBUX is at risk of coming down to the bottom of the wedge trend line next at $82 if this trend continues.
Bulls have not lost this yet as long as the price action can stay in the wedge.
Comments
guys , i was in china last week, saw many sbux stores... jinan, nanning... not important cities, and was amazed. incredible the level of capitalism there.
Rene
2023-12-05 20:00:45 +0000 UTC
