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
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.