Starbucks: ⬆️ Buy
– Starbucks reversed from strong support level 86.00
– Likely to rise to resistance level 96.00
Starbucks recently reversed up from the support zone between the strong support level 86.00 (which stopped the previous ABC correction (2) at the end of March) and the support trendline of the daily down channel from the start of September.
The upward reversal from this support zone completed the C-wave of the ABC correction 2 from the middle of May and formed the daily Japanese candlesticks reversal pattern Hammer.
Given the strength of the support level 86.00, Starbucks can be expected to rise further toward the next resistance level 96.00 – which stopped waves a and (iv) at the end of September and the start of October.