Since March, Starbucks (
SBUX) has been in a sustained downtrend, gradually rounding out a base. Now, the chart is showing early signs of a trend reversal.
Yesterday, price broke out of a bull flag formation on the daily chart and is now testing the $95.50 zone — a critical neckline level of a cup and handle pattern.
✅ Bullish Scenario:
A clean break and hold above $95.50 would confirm the cup-and-handle breakout.
If confirmed, this setup could target a measured move that eventually retests all-time highs.
More conservative traders may want to wait for a back test of the $95.50 neckline as confirmation, especially given its past historical significance.
⚠️ Bearish Invalidation:
A break and hold below $95.50 would invalidate the cup-and-handle pattern, suggesting the breakout has failed.
📌 This is a purely technical idea. No fundamentals involved.
As always, Happy Hunting!
This is not financial advice. Always do your own due diligence
SBUX) has been in a sustained downtrend, gradually rounding out a base. Now, the chart is showing early signs of a trend reversal.Yesterday, price broke out of a bull flag formation on the daily chart and is now testing the $95.50 zone — a critical neckline level of a cup and handle pattern.
✅ Bullish Scenario:
A clean break and hold above $95.50 would confirm the cup-and-handle breakout.
If confirmed, this setup could target a measured move that eventually retests all-time highs.
More conservative traders may want to wait for a back test of the $95.50 neckline as confirmation, especially given its past historical significance.
⚠️ Bearish Invalidation:
A break and hold below $95.50 would invalidate the cup-and-handle pattern, suggesting the breakout has failed.
📌 This is a purely technical idea. No fundamentals involved.
As always, Happy Hunting!
This is not financial advice. Always do your own due diligence
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