SBUX Starbucks Chart

Starbucks Stock Consolidates For Possible Earnings Jump (NASDAQ: SBUX)

In shares of Starbucks, there is a correctional strengthening from a three-month low of October 2. The decline of the emitter’s quotes from the July 52-week high was more than 13.5%. The company announced the publication of financial results for Q3 on October 31. The Wall Street expects another strong report, with earnings per share growth by 13% (YoY) to USD 0.70 and revenue growth by 5% (YoY) to USD 6.63 billion.

SBUX Starbucks Chart
SBUX Starbucks Chart

During the previous week, Starbucks’ shares grew by 1.52%. S&P500 went up by 0.96% within the same period.

Support and resistance

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The emitter continues to show negative dynamics. #SBUX quotes updated local minima. At the moment, the company’s shares are consolidating. The key trading range is 84.00–88.00. The instrument has the potential to further correction.

Indicators don’t give a clear signal: MA (50) began to cross MA (200); MACD histogram started to grow. Positions are to be opened from key levels.

Comparing the company’s multiplier with its competitors in the industry, we can say that #SBUX shares are neutral.

mifinance

Support levels: 84.00, 79.50, 76.00.

Resistance levels: 88.00, 93.00, 97.50.

Starbucks SBUX Trading tips

If the price consolidates below the support level of 84.00, #SBUX shares may continue to correct. Potential profits should be locked in by orders at 81.00, 78.00, and 76.00. Stop loss – 87.00.

If the price consolidates above 88.00, one may consider buying #SBUX. The moving potential is aimed at the area of 93.00–96.00. Stop loss – 85.00.

Implementation period: 3 days.

Starbucks SBUX Technical Indicators 1HR

Moving Averages
NameValueAction
Exponential Moving Average (5)85.84Buy
Simple Moving Average (5)85.80Buy
Exponential Moving Average (10)85.80Buy
Simple Moving Average (10)85.83Buy
Exponential Moving Average (20)85.75Buy
Simple Moving Average (20)85.71Buy
Exponential Moving Average (30)85.77Buy
Simple Moving Average (30)85.74Buy
Exponential Moving Average (50)86.07Sell
Simple Moving Average (50)85.42Buy
Exponential Moving Average (100)87.27Sell
Simple Moving Average (100)87.39Sell
Exponential Moving Average (200)89.19Sell
Simple Moving Average (200)90.10Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)85.51Neutral
Volume Weighted Moving Average (20)85.65Buy
Hull Moving Average (9)85.79Buy
Oscillators
NameValueAction
Relative Strength Index (14)53.64Neutral
Stochastic %K (14, 3, 3)71.48Neutral
Commodity Channel Index (20)79.53Neutral
Average Directional Index (14)24.61Neutral
Awesome Oscillator0.07Buy
Momentum (10)−0.05Buy
MACD Level (12, 26)0.03Buy
Stochastic RSI Fast (3, 3, 14, 14)78.00Neutral
Williams Percent Range (14)−22.47Neutral
Bull Bear Power0.29Neutral
Ultimate Oscillator (7, 14, 28)52.70Neutral

Starbucks Company Info

Starbucks Corporation, together with its subsidiaries, operates as a toaster, marketer and retailer of specialty coffees worldwide. The company operates in four segments: America; China / Asia Pacific; Europe, the Middle East and Africa; and channel development. Its stores offer coffee and tea drinks, roasted whole grains and ground coffee, single-serving and ready-to-drink drinks, iced tea and food and snacks; and various food products, such as cakes, breakfast sandwiches and lunch items. The company also licenses its registered trademarks through licensed stores and supermarket accounts and food services. It offers its products under the brands Starbucks, Teavana, Tazo, Seattle’s Best Coffee, Evolution Fresh, La Boulange, Ethos, Frappuccino, Starbucks Reserve, Princi, Starbucks Doubleshot, Starbucks Refreshers and Starbucks VIA. As of April 25, 2019, the company operated approximately 30,000 stores. Starbucks Corporation was founded in 1971 and is based in Seattle, Washington.

Starbucks SBUX Stock Recommendations

Jul-29-19InitiatedGoldmanBuy$110
Jul-29-19DowngradeRobert W. BairdOutperform → Neutral$98
Jul-29-19DowngradeJP MorganOverweight → Neutral$91
Jul-26-19ReiteratedTelsey Advisory GroupMarket Perform$80 → $90
Jun-25-19InitiatedCredit SuisseOutperform$92
Jun-12-19InitiatedEvercore ISIIn-line
May-06-19ReiteratedTelsey Advisory GroupMarket Perform$70 → $80
Apr-26-19DowngradeWells FargoOutperform → Market Perform$83 → $80
Apr-08-19DowngradeUBSBuy → Neutral$72 → $78
Jan-25-19ReiteratedOppenheimerOutperform$70 → $72
Jan-11-19DowngradeGoldmanBuy → Neutral
Dec-03-18ReiteratedTelsey Advisory GroupMarket Perform$66 → $70
Nov-12-18UpgradeArgusHold → Buy
Nov-05-18UpgradeMizuhoNeutral → Buy
Nov-02-18ReiteratedBofA/MerrillBuy$64 → $68
Oct-29-18ReiteratedTelsey Advisory GroupOutperform$58 → $62
Oct-04-18InitiatedKeyBanc Capital MktsOverweight
Aug-22-18DowngradePiper JaffrayOverweight → Neutral
Jul-17-18ReiteratedTelsey Advisory GroupMarket Perform$60 → $58
Jun-20-18ReiteratedStifelHold$58 → $55

 

1 thought on “Starbucks Stock Consolidates For Possible Earnings Jump (NASDAQ: SBUX)”

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