Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Elliott Wave Analysis by EWF
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Elliottwave-Forecast, post: 215788, member: 40858"] Starbucks Corporation (SBUX) is an American multinational chain of coffeehouses and roastery reserves. It is the world’s largest coffeehouse chain. As of November 2021, the company had 33,833 stores in 80 countries, 15,444 of which were located in the United States. Out of Starbucks’ U.S.-based stores, over 8,900 are company-operated, while the remainder are licensed. [HEADING=2]Starbucks ($SBUX) Elliott Wave Analysis - July Daily Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2022/12/SBUX-Blog-1.jpg'][IMG alt="Starbucks ($SBUX) Elliott Wave Analysis - July Daily Chart"]https://elliottwave-forecast.com/wp-content/uploads/2022/12/SBUX-Blog-1.jpg[/IMG][/URL] Starbucks completed a cycle from March 2022 low in July 2021 peak and we labeled as wave I. Then we could see a double correction ((W)), ((X)) and ((Y)). A clear 7 swing correction to complete wave II in May 2022. From here we were calling a beginning of a nest to continue with the rally. A nest is a group of waves 1 and 2 until wave 3 starts. (If you want to learn more about double correction or Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory). The Rally continue higher than expected; therefore, we have adjusted the count labelling wave (1) higher as we show in the next chart. [HEADING=2]Starbucks ($SBUX) Elliott Wave Analysis - December Daily Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2022/12/SBUX-Blog.jpg'][IMG alt="Starbucks ($SBUX) Elliott Wave Analysis - December Daily Chart"]https://elliottwave-forecast.com/wp-content/uploads/2022/12/SBUX-Blog.jpg[/IMG][/URL] Starbucks bounced from the May low ended an impulse Wave 1 at 81.30 and pullback as wave 2 finished at 70.29. Then rally continued ended wave 3 at 89.94 and retracement as wave 4 completed at 81.72. Last push to complete wave (1) impulse ended at 93.63. After this, a flat correction appeared making 3 swings pullback where wave B was a triangle. Wave (2) ended at 82.50. The rally continued and we expect that wave 1 in red finishes soon. The best structure to complete an impulse as wave 1 is making one more high above 105.51 with divergence in the RSI. Then a correction in 3, 7 or 11 swings is expected to complete wave 2 and continue with the uptrend. The count is valid as we stay above 82.50. Source: [URL]https://elliottwave-forecast.com/stock-market/starbucks-sbux/[/URL] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…