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Archive
- 4/19/2024 -
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Starbucks Corp. (SBUX) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Starbucks Corp. (SBUX). During the week, the SBUX gained 2.69 points, or 3.17%, and closed at 87.61 on Friday, April 19, 2024. It was the best weekly gain since February 9, 2024. Weekly volume was 36% above average.
 Long-term trend: [See SBUX long-term trend chart]
A long-term downtrend had started on May 1, 2023 at 115.48 and reached 84.29 on April 12, 2024. SBUX lost 31.19 points, or 27.01%, in 49 weeks. The price is now at the 10.64% retracement level.
 Medium-term trend: [See SBUX medium-term trend chart]
A medium-term downtrend had started on November 16, 2023 at 107.66 and reached 84.29 on April 12, 2024. SBUX lost 23.37 points, or 21.71%, in 21 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 83.67 and resistance is at 96.98. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See SBUX weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since December 29, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See SBUX short-term trend chart]
A short-term downtrend had started on January 31, 2024 at 98.36 and reached 84.29 on April 12, 2024. SBUX lost 14.07 points, or 14.30%, in 72 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 83.52 and resistance is at 95.45. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See SBUX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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