Stock Technical indicators to notice in Starbucks Corporation (SBUX)
1- Last bearish trend was from 25.66 $ (8/9/2010) to 22.82 $ (8/24/2010) a 2.84 $ move 2- The current bullish trend started from 22.82 $ at 8/24/2010 and is currently trading at 23.68 $.
4- SBUX current resistance level is at 23.90 which is the 38.20 % fibonacci retracement of the last 2.84 $ move.
5- According to ADX Indicator, the trend is currently strong bearish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Starbucks Corporation (SBUX) Short term stock chart patterns for internet stock trading :
6- The Stock was resisted by a resistance line, identified by two points: 25.660 and 25.990, and is currently resisting at 25.330.
Starbucks Corporation (SBUX) Mid term stock chart patterns for internet stock trading :
7- The Stock was resisted by a resistance line, identified by two points: 25.990 and 27.940 that was broken up at 23.360 transforming into a supporting line.
Starbucks Corporation (SBUX) Long term stock chart patterns for internet stock trading :
8- The Stock was resisted by a resistance line, identified by two points: 25.990 and 27.940 that was broken up at 23.360 transforming into a supporting line.
Stock Trading Conclusion:
Starbucks Corporation (SBUX) was trading in a strong bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy in online trading , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .
Stock Resistance Levels : 23.90, 24.24, 24.58, 25.33, 25.66, 26.43, 27.42.
Stock Support levels : 23.49, 23.48, 23.35, 23.25, 23.15, 22.82, 22.31,.
