Starbucks: ⬇️ Sell
– Starbucks reversed from resistance
– Likely to fall to support level 100.8
Starbucks recently reversed down from the resistance zone located between the multi-month resistance level 108.00 (which has been reversing the price from May) and the upper daily Bollinger Band.
The downward reversal from this resistance zone started the active short-term correction ii – that belongs to wave 5 from August.
Given the strength of the resistance level 108.00, Starbucks can be expected to fall further to the next support level 100.8 (which stopped the previous waves iii and 2).