Technical Pulse: Starbucks Corp May 21, 2021 454


Starbucks Corp (US: SBUX) upside is ongoing and technical is showing further upside going forward:   


  1. Despite prices briefly breached the primary uptrend line, prices remain supported within the support zone at US$107-US$110.
  2. The morning star formation at the base of the bullish flag is indicative of a strong bullish upside. Furthermore, there seems to be a mini potential double bottom forming at the base of the bullish flag.
  3. The Relative Strength Index is showing a bullish divergence.




*Timeline of the trade is 8 weeks from the date issued.



Moving Average


Red dotted line = 200-MA

Blue dotted line = 50-MA


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