Uncovering Noteworthy Technical Analysis Findings for STARBUCKS CORP (NASDAQ:SBUX).

Our stockscreener has identified a possible breakout setup on STARBUCKS CORP (NASDAQ:SBUX). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:SBUX for potential opportunities.

What is the technical picture of NASDAQ:SBUX telling us.

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to SBUX. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, SBUX is only an average performer.

• The long and short term trends are both positive. This is looking good!
• In the last month SBUX has a been trading in the 93.66 - 99.51 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• Looking at the yearly performance, SBUX did better than 71% of all other stocks. However, this relatively good performance is mostly due to a recent big move.
• SBUX is part of the Hotels, Restaurants & Leisure industry. There are 135 other stocks in this industry, SBUX did better than 61% of them.
• SBUX is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so SBUX is lagging the market.

Check the latest full technical report of SBUX for a complete technical analysis.

Looking at the Setup

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NASDAQ:SBUX exhibits a 8 setup rating, indicating its consolidation status in recent days and weeks.

SBUX has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 96.01, a Stop Loss order could be placed below this zone.

Trading setups like NASDAQ:SBUX

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.