STARBUCKS CORPORATION Stock Code SBUX.NAS
Price broke above the cloud on 1 July 2021 and the next day, price advance higher and with a gap as well. The gap up is a sign of a strong bullish price trend. Price also broke above an Ichimoku V-shaped structure with a V price projection target at $119.90. Conversion and Base lines had a bullish crossover earlier, hinting of a bullish price trend. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish trend. MACD has bullish crossover and both lines are moving higher from the zero line. We think price is likely to move higher to the Ichimoku V shaped price projection at $119.90 in the next 2-3 weeks.
$119.90 Price Target
$112.50 Risk Management Stop
2 weeks Trade Duration