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Industry Stocks Technical Analysis - SBUX

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- 3/15/2024 -
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Starbucks Corp. (SBUX) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is oversoldLane's Stochastic bullish divergence
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageStochastic signal line moved above oversold areaLane's Stochastic and MACD bullish divergence
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It was the negative week for the Starbucks Corp. (SBUX). During the week, the SBUX dropped -0.94 points, or -1.03%, and closed at 90.12 on Friday, March 15, 2024. Weekly volume was 46% above average.

Long-term trend: [See SBUX long-term trend chart]
A long-term downtrend had started on May 1, 2023 at 115.48 and reached 89.21 on October 3, 2023. SBUX lost 26.27 points, or 22.75%, in 22 weeks. Price is near the trend low.

Medium-term trend: [See SBUX medium-term trend chart]
A medium-term downtrend had started on November 16, 2023 at 107.66 and reached 90.10 on March 15, 2024. SBUX lost 17.56 points, or 16.31%, in 17 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 88.60 and resistance is at 97.53. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See SBUX weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since December 29, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See SBUX short-term trend chart]
A short-term downtrend had started on February 9, 2024 at 97.99 and reached 90.10 on March 15, 2024. SBUX lost 7.89 points, or 8.05%, in 35 days. Price is near the trend low.

Daily Technical Indicators: [See SBUX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence.

The daily MACD line is below its signal line since February 27, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.40
Williams' Percentage Range (W%R) 78.00
Lane's Stochastic (%D-Slow) 31.29
Bullish
Greed/Fear Indicator (GFI) 28.55
Moving Average Converg./Diverg. (MACD) -0.63 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.42
Williams' Percentage Range (W%R) 91.50
Strong Oversold
Lane's Stochastic (%D-Slow) 30.16
Bullish
Greed/Fear Indicator (GFI) 27.42
Moving Average Converg./Diverg. (MACD) -1.21 Bullish
Trading Signals
Description Value Chart
Monthly Trendline Resistance 97.53
Upper Bollinger Band 95.74
50 Day Moving Average 93.31
20 Day Moving Average 92.89
Parabolic System 92.82
Weekly Stochastic Crossing 92.29
Daily Stochastic Crossing 90.96
Price 90.12
Lower Bollinger Band 89.31
Monthly Trendline Support 88.60
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Restaurants 54
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 97.99
High Date 02/09/2024
Low 90.10
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 98.36
High Date 01/31/2024
Low 90.10
Low Date 03/15/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 97.53
Support 88.60
High 107.66
High Date 11/16/2023
Low 90.10
Low Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 115.48
High Date 05/01/2023
Low 89.21
Low Date 10/03/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 126.32
High Date 07/23/2021
Low 68.39
Low Date 05/12/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.