SBUX drops to lowest close since September 6th
Starbucks Corp. (SBUX) Technical Analysis Report for Sep 14, 2018
Moving lower for the 3rd day in a row, SBUX finished the week -0.2% lower at 54.75 after losing $0.14 (-0.26%) today on low volume. Today's closing price of 54.75 marks the lowest close since September 6th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Friday's trading range was $0.39 (0.71%), that's far below last trading month's daily average range of $0.65. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 54.44.
Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Selling might speed up should prices move below the nearby swing low at 54.33 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Starbucks Corp.
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|4 Consecutive Lower Closes||TQ Pro Members Only|
|Closed below last periods low||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|RSI(2) below 20||TQ Pro Members Only|
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