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Exploring STARBUCKS CORP's Technical Signals and Breakout Potential.

By Mill Chart

Last update: Nov 16, 2023

STARBUCKS CORP (NASDAQ:SBUX) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NASDAQ:SBUX.

SBUX Daily chart on 2023-11-16

Analyzing the Technical Aspects

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

Taking everything into account, SBUX scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, SBUX is only an average performer.

  • The long and short term trends are both positive. This is looking good!
  • SBUX is part of the Hotels, Restaurants & Leisure industry. There are 137 other stocks in this industry. SBUX outperforms 73% of them.
  • In the last month SBUX has a been trading in the 90.55 - 106.54 range, which is quite wide. It is currently trading near the high of this range.
  • Looking at the yearly performance, SBUX did better than 81% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
  • SBUX is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so SBUX is lagging the market slightly.

For an up to date full technical analysis you can check the technical report of SBUX

Why is NASDAQ:SBUX a setup?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:SBUX scores a 8 out of 10:

SBUX has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 101.43, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NASDAQ:SBUX

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

More breakout setups can be found in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.

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STARBUCKS CORP

NASDAQ:SBUX (2/23/2024, 11:40:10 AM)

96.565

+0.78 (+0.82%)

SBUX News

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The SOC is pushing to replace three members of the Starbucks board, claiming the reputational risk of the union fight has hurt shareholder value.

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