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- 1 Starbucks Corp SBUX stock price is trading near a crucial resistance level and may slip.
- 2 SBUX shares are trying to remain above the 20, 50, 100 and 200-days Daily Moving Average.
- 3 Starbucks Corporation (NASDAQ: SBUX) is an American multinational chain of coffee houses and roastery reserves headquartered in Seattle, Washington.
Starbucks is the world’s largest coffeehouse chain and its SBUX stock price is consolidating to maintain above the $100 mark over the daily chart. SBUX shares have been under control of sellers during Friday’s trading session. However, analysts believe buyers may approach by the opening of Monday’s trading session with a fresh start. Meanwhile, the Starbucks stock price has been trying to sustain at the primary resistance level of $102.39 to reach the $115 recovery level.
SBUX stock price was at $101.61 and has gained 0.01% of its market capitalization during Friday’s trading session. The trading volume was below average and needs to grow during Monday’s trading session. Starbucks Corp. stocks must accumulate buyers in order to sustain at the current level.
Will SBUX Stock Price Reach the $115 Mark?
SBUX stock price has been constant inside the horizontal range-bound area over the daily time frame chart. Starbucks stock price has been consolidating inside the price range of $95.55 and $102.40. Nevertheless, analysts believe the SBUX share price may initiate its recovery phase as soon as it breaks out from the horizontal range-bound area. Meanwhile, SBUX shares are trying to remain above the 20, 50, 100 and 200-days Daily Moving Average.
Starbucks stock price has gained 5.85% in a week and 2.06% in a month. Moreover, the stock price has soared 1.04% year-to-date suggesting the recovery of SBUX shares during 2023. Also SBUX shares have performed excellently with total gains of 31.81% in a year, thus, highlighting the improvement in SBUX share’s performance throughout the year.
Technical indicators suggest the upward momentum of SBUX stock price. Relative strength index (RSI) showcases the sustainability issues of SBUX shares at the current level. RSI was at 57 and is flat above neutrality.
MACD exhibits the upside trend of Starbucks stocks. The MACD line is above the signal line after a positive crossover. Investors in Starbucks Corp (NASDAQ: SBUX) stocks need to wait for any directional change over the daily time frame chart.
Summary
Starbucks is the world’s largest coffeehouse chain and its SBUX stock price is consolidating to maintain above the $100 mark over the daily chart. Nevertheless, analysts believe the SBUX share price may initiate its recovery phase as soon as it breaks out from the horizontal range-bound area. Moreover, SBUX share price has soared 1.04% year-to-date suggesting the recovery of SBUX shares during 2023. Technical indicators suggest the upward momentum of the SBUX share price. Investors in Starbucks Corp (NASDAQ: SBUX) stocks need to wait for any directional change over the daily time frame chart.
Technical Levels
Resistance Levels: $102.40 and $105.55
Support Levels: $100.75 and $100.25
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
