STARBUCKS CORP.: MURREY ANALYSIS

Current trend

Shares of Starbucks Corp., one of the largest companies that owns the coffee chain of the same name, resumed their decline in November but then returned to Murrey’s main trading range, entered the negative territory and is currently close to 90.62 (Murrey’s level [2/ 8]), consolidation below it will allow them to reach the lower limit of the trading range 87.50 (Murrey level [0/8]) and the reversal zone 85.94 (Murrey level [–1/8]). In the event of an upward breakout of the key “bullish” central level of the Murrey trading range at 93.75 (Murrey level [4/8]), supported by the middle line of Bollinger bands, growth to the area of 96.88 (Murrey level [6/8]) and 100.00 (Murrey level [8/8]) is expected, which is less likely.

Technical indicators reflect the formation of a downward trend in the market: Bollinger Bands are directed downward, the MACD histogram is increasing in the negative zone, and Stochastic is directed downward, having entered the oversold zone.

Support and resistance

Resistance levels: 93.75, 96.88, 100.00.

Support levels: 90.62, 87.50, 85.94.

Trading tips

Short positions may be opened below 90.62 with the targets at 87.50, 85.94 and stop loss around 92.75. Implementation time: 5–7 days.

Long positions may be opened above 93.75 with the targets at 96.88, 100.00 and stop loss 91.50.