Starbucks Corp., H4

On the H4 chart of the shares of Starbucks Corp., a "Bull Flag" pattern is being built, the price exit from which should occur upwards with a likely target of 89.76, as well as a series of candle patterns "Inverted Hammer", "Bull Engulfing Pattern", "Hammer" and "Morning Star" at the level of 78.79, which signal pressure from buyers. Most likely, soon, the "bulls" will attempt to test the upper limit of the "Bull Flag" pattern and consolidate their positions above the resistance level of 81.84, which will become a catalyst for opening long positions with targets around 84.33–89.76. If the "bears" manage to overcome the key support level of 78.79, then the negative dynamics may increase to the area of 74.64–71.49.

Starbucks Corp., D1

On the D1 chart, there is a change from a downtrend to an uptrend in the area of 71.49. The share price of Starbucks Corp. is held at the level of 80.31, and to confirm the development of an uptrend, the asset must recover above the diagonal and horizontal resistance lines around 81.84. Intense pressure on the quotes is exerted by the candlestick patterns "Three Advancing White Soldiers" and "Bull Engulfing Pattern" around 78.79–81.84. Most likely, buyers will continue to restore their lost positions to the resistance level of 81.84, overcoming which will allow them to continue moving up to the level of 89.76.

Support and resistance

Support levels: 78.79, 74.64, 71.49.

Resistance levels: 81.84, 84.33, 89.76.

Trading tips

Long positions can be opened above 81.84 with targets of 84.33, 89.76 and stop-loss of 80.31. Implementation time: 7 days and more.

Short positions can be opened below the 78.79 mark with targets of 74.64, 71.49 and stop-loss of 80.31.