Trading news

Starbucks – is the correction finished?

Weekly chart:

After the Starbucks price rose to a new high at 64$, it then went back to precisely the last point two at 59.32$. From there, the price was able to push itself off upwards last week and seems to be starting a new movement. However, the trend is already very mature, making it questionable whether the price can rise much higher than the last high.

Chart1

Daily chart:

In the daily chart the situation looks slightly more positive, since the price is coming out of very deep in the correction zone. This leaves enough space to the last high. With a stop loss beneath the green correction zone, one can speculate on a continuation of the trend.

Chart2

Hourly chart:

Unfortunately, the last correction led to a downtrend in the hourly chart. This could only be equalized with the rise from Friday. In this trend size, we are lacking a valid trend in order to place a meaningful trade.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Tuesday, 08 Dec, 2015 / 8:53

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