Is Starbucks Consolidating Again for another Bull Run?
It looks like Starbux consistently finds a consolidation floor and then climbs uphill. Could this consolidation be the spring loading up to the anticipation of earnings that will soon have chinese samestore sales included?
I believe alot of investors are waiting for earnings and if earning are good and SBUX pops up and opens above 54.50 If this happens then as a long term investment I think it breaks the triangle and trades to all time highs again and then hits newer highs within two years. I do believe the ride will be turbulent due to the current political atmosphere and rate-hike fever that will continue to sicken this market for some time.
For a swing trade I will look for this gap post earning and look for an entry setup with my stop set below the open.
I believe alot of investors are waiting for earnings and if earning are good and SBUX pops up and opens above 54.50 If this happens then as a long term investment I think it breaks the triangle and trades to all time highs again and then hits newer highs within two years. I do believe the ride will be turbulent due to the current political atmosphere and rate-hike fever that will continue to sicken this market for some time.
For a swing trade I will look for this gap post earning and look for an entry setup with my stop set below the open.