Analysis and Prediction for Starbucks Corporation SBUX

29 dic 2024

Chart Overview:
Instrument: Starbucks Corporation (SBUX)
Timeframe: Daily Chart
Indicators and Features:
White Dashed Lines: Represent key dark pool levels.
Trendlines:
Red lines represent major resistance.
Green line marks ascending support.
Supply Zone (SZ) and Demand Zone (DZ)**: Highlight potential zones of liquidity and institutional interest.
Pivot Levels: R1 at 102.59 and R2 at 108.73 serve as key resistance levels.
Key Observations:
Descending Resistance:
The upper red trendline shows a long-term descending resistance.
SBUX recently tested this resistance around the R1 (102.59) level but failed to break out, leading to a rejection and drop.
Dark Pool Levels:
Key levels to watch:
$98.60: Acts as immediate resistance and a potential reversal point.
$91.65: A key demand zone (SZ) aligned with a dark pool level.
$86.30: Lower demand zone and ultimate support for bulls.
Ascending Support (Green Line):
The ascending green trendline has held as a strong support level during prior dips.
The current price bounced off this support around $86.30, indicating buyer strength.
Potential Reversal Zone:
After a sharp selloff, the price has bounced back to the $91-$93 range, which lies close to a short-term support zone (SZ).
This indicates a possible consolidation before the next significant move.
Pivot Levels and Supply Zone:
The R1 (102.59) level is a critical resistance, aligning with the red descending trendline and prior rejection.
R2 (108.73) represents the next profit target if SBUX can break above R1.
Trading Strategy:
Scenario 1: Bullish Breakout:

If the price sustains above $94.00, we could see bullish momentum toward the following:
Target 1: $98.60 (dark pool resistance).
Target 2: $102.59 (R1 and major resistance).
Target 3: $108.73 (R2).
Entry:
Long positions above $94.00 with confirmation (strong volume and candle close).
Stop Loss:
Place below $91.00 (below the demand zone and green support trendline).
Scenario 2: Bearish Continuation:

If the price fails to break $94.00 and reverses, we could see:
Target 1: $91.65 (demand zone/dark pool support).
Target 2: $86.30 (ascending trendline support and demand zone).
Entry:
Short positions below $91.00 if breakdown is confirmed.
Stop Loss:
Place above $94.00.
Risk Management:
Use a 1:3 risk-to-reward ratio.
Position size should reflect individual risk tolerance and account size.
Volume Consideration:
Watch for a volume spike near key levels (94.00 or 91.65) to confirm breakout or breakdown scenarios.
Summary:
This chart shows a critical point for SBUX, where buyers are defending a demand zone ($91.65-$93.00). A breakout above $94.00 would suggest a move toward $98.60 or higher, while a failure to hold above the green trendline would indicate further downside to $86.30.