SBUX 2HR TF
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ANALYSIS
Coffee is in high demand, but SBUX is facing inventory shortages (cups, syrups, oat milk) as it continues to reopen locations world-wide. SBUX is already making amends as the company is resuming it's reusable cup program and dropping its summer 2021 drink line up.... This past week SBUX showed some strength to reverse and retest ATHs, as it broke the current downtrend resistance (solid green trendline) and filled the gap at 112.54. Looking for a continuation this week with a slanted inv h&s setting up and an impulsive wave 3 forming as the breakout.
Targets: 113.70, 118.32, new highs
Key levels
Support: 112.14, 110.88, 108.90
Resistance: 113.73, 114.63, 116.12, 119
Ideas
1. Shares
2. Long (swing calls 2week+ out exp. ATM/ OTM)
-----------------
ANALYSIS
Coffee is in high demand, but SBUX is facing inventory shortages (cups, syrups, oat milk) as it continues to reopen locations world-wide. SBUX is already making amends as the company is resuming it's reusable cup program and dropping its summer 2021 drink line up.... This past week SBUX showed some strength to reverse and retest ATHs, as it broke the current downtrend resistance (solid green trendline) and filled the gap at 112.54. Looking for a continuation this week with a slanted inv h&s setting up and an impulsive wave 3 forming as the breakout.
Targets: 113.70, 118.32, new highs
Key levels
Support: 112.14, 110.88, 108.90
Resistance: 113.73, 114.63, 116.12, 119
Ideas
1. Shares
2. Long (swing calls 2week+ out exp. ATM/ OTM)
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