Starbucks Trading Analysis (04/06/2025)
The trend is descending. The stock is trading within the 365-135 EMA range on the H1 timeframe. The downward wave structure is truncated. There is bearish divergence on the Awesome Oscillator and overbought conditions on the Stochastic Oscillator.
Trade idea:
- Sell when the descending wave structure begins forming and wave A breaches the sloping channel of the truncated uptrend structure.
- Stop-loss at 87.74.
- Price targets are 80.22 and 78.00.
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