$SBUX - RC -
Added 2023-07-10 10:24:56 +0000 UTCIn a worrying position here for a number of a reasons, first of all it is glued to our corrective wave C.
The price action broke down back into the wedge after its earnings report in May, it then retested the upper limit of the wedge again and got rejected.
It then lost the 50 and 200 Day MA's.
And now we can see that the 50 Day MA is going to cross down through the 200 Day MA to the downside which is bearish.
This will likely come down to the bottom yellow wedge trend line again at $80.
Comments
I agree, a lot to like here if the price can come down to these levels
Gareth Neary
2023-07-10 11:11:31 +0000 UTCWould absolutely love a chance to buy this at the yellow line but especially at the bottom of wave C. One of the strongest brands in the world gives this company an incredible MOAT. Very fast growing dividend should give a very big yield on cost if you accumulate a position during this wave C and hold for 10 years
Jesse Gaffey
2023-07-10 10:57:43 +0000 UTC
