$SBUX - RC -
Added 2024-02-05 20:55:35 +0000 UTCWe have been looking at this chart for the last 14 months and it is still within this very large wedge dating back to the Covid Low and still below the 50 and 200 Day MA, earnings report was on the 30th of Jan and it has halted its plans to break out of the wedge by missing on both earnings and revenue.
Both directions are still at play here but losing the 200 Day MA leads me to believe that the bears have taken back control.
There is still some distance to go until the wedge is complete too, so I would be in no rush here to start a position while it is moving sideways here.
Comments
Wait as it’s still close to 50/50 right now
Gareth Neary
2024-02-05 21:24:33 +0000 UTCWhat would you recommend for holders to do?
Damien O'Sullivan
2024-02-05 21:10:05 +0000 UTC
