SBUX still looks good

Alright folks, today we’re gonna take a look at Starbucks ticker symbol is s bux s bucks. And this was a trade setup I gave to our SST pro community members earlier this week and I feel like it still has potential to move to the upside. So as you can see, I am long as bucks Starbucks via bull put credit spreads, got a lot of things here. So I’ll do a quick analysis of why I like it. So one we have on the weekly chart over here, we basically met a larger based 123 Excuse me a head and shoulders top pattern, as you can see here, left shoulder head right shoulder, we basically come down and met that objective. It’s not uncommon when we do meet that objective that the market then will tend to reverse notice that that also coincided perfectly with our 123 Top patter met our profit objective number two almost to the tick and it looks like it’s time to reverse Now aside from that technical aspect, we have come down and made a nice 50% retracement based off of this swing high here 126 down to this last swing low that we saw back in March of 2020. We’ve had a nice healthy 50% retracement, which was what we welcome in bull markets. Now not only that, we’re coming down here into 200 day moving average support and we have a beautiful area of price structure here or this level that happens to be at the 50% retracement level, we’ll call it 8775 88 unchanged. Okay, so now we go to the daily chart you see after all the selling all the selling that we can see on the weekly chart, we see that on the daily chart, notice how all that momentum of that selling going on, it’s starting to dry up a little bit. It’s not as heavy as we saw here, here, here here. It’s starting to settle down as we come into this key level. Notice that we had that reaction right here’s large bullish candle here, this reaction at this key level, which happens to be the 50% retracement level. In now we are breaking short term trend line resistance now Now aside from all of that chart analysis, we also have favorable seasonality. So this is the last ingredient here, bullish on around March nine. And on around March 24 80% win rate over 16 years of data. This is some very, very solid data. So we know that we have done our chart analysis, I eat technical analysis, price action analysis. Now we know from a seasonal perspective that the market also tends to go higher at this time of the year. First target is going to be right up here at the 9899 level right up here in this area. And then second target will be all the way up here around the 115 116 area that will be a longer term. So we’re going to be targeting this 9899 $100 areas first target, move your stops up and then we’ll look to see if we can ride it for a larger winner. None of you doing a free event on Thursday, March 3 at 12pm. Eastern spotty the big money moves with this new trading strategy. In fact, you’re going to learn some of the exact strategies I just showed you on this analysis that I did on Starbucks. What I did today across the s&p the 30 year bonds, the Japanese yen and a lot of other stocks. Registration is free and a hyperlink to this page of yours click the orange button. Register now and I can’t wait to see you there.