Technical analysis

Starbucks Wave Analysis 4 December, 2020

Starbucks Wave Analysis 4 December, 2020

• Starbucks broke round resistance level 100.0

• Likely to rise to 105.00

Starbucks continues to rise strongly after the price broke above the major round resistance level 100.00 (which stopped the sharp uptrend in the middle of 2019).

The breakout of the resistance level 100.00 was preceded by the breakout of the earlier powerful resistance level 95.00 and the weekly up channel from the middle of 2020.

Starbucks is expected to rise further toward the next resistance level 105.00 (target price for the completion of the active weekly impulse wave (5)).

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