Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Starbucks stock price decreased by 3.39% over the past month.</a> </li> 
 <li> <span>2</span> <a>Starbucks stock price is currently trading at $96.23 with a drop of 0.96% in the last 24 hours with a current market cap of $110.222 Billion.</a> </li> 
</ul> 
<p>Starbucks stock reached a high of $115.79 but could not maintain it and started to fall, resuming the downtrend that showed further weakness in the market. According to the current situation, the market is trading below the dynamic support trendline which can further lead to lower levels. The market is also in a downtrend based upon a larger time frame as it is making lower lows.</p> 
<p>Starbucks has been declining from its high levels and making lower-low structures. It is currently in a downtrend after breaking below the 20-day and 200-day moving average. If SBUX stock price cannot stop the bearish pressure, it may form a new lower-low pattern shortly and prolong the downtrend.</p> 
<p>The current scenario requires traders and investors to be patient and look for a clear break below or above the range before making any moves and avoid the fear of missing out to minimize losses.</p> 
<p>Starbucks’ stock price grew 1.03% last week; it declined by 3.39% through the month. Furthermore, SBUX stock experienced a drop of roughly 2.87% within the past six months and a decrease of 4.31% year to date.</p> 
<p>Additionally, the SBUX stock price grew by approximately 4.50% last year. These trends collectively indicate the challenges faced by Starbucks shares in their recovery efforts throughout the year.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-starbucks-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of Starbucks Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="466" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-489-1024x466.png" alt="" class="wp-image-168665" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-489-1024x466.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-489-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-489-768x349.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-489-750x341.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-489-1140x519.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-489.png 1433w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Starbucks.1D.NASDAQ by <a href="https://www.tradingview.com/x/QkRVuuLM/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, Starbucks <a href="https://www.thecoinrepublic.com/2023/09/03/starbucks-sbux-stock-near-to-breakout-will-it-surpass-100/" target="_blank" rel="noreferrer noopener">stock </a>shows sellers’ dominance and slipped below neutrality, showing a negative outlook on the charts. Moreover, the price dropped below the 23.60% Fib level and near the lower Bollinger band.</p> 
<p>The price of Starbucks is currently at a crossroads. It could go up to $98.54 and $103.36, if it can maintain the current level. Otherwise, it might hit the closest support levels of $92.61 and $87.79.</p> 
<p>At the moment, Starbucks stock (NASDAQ: SBUX) is trading below the 50 and 200-day SMAs (simple moving averages), which do not support the price trend. If bulls want to make a comeback, they will have to rise and sustain the price above the 20-day EMA. However, the sellers seem to be more aggressive as compared to buyers.</p> 
<p>The SBUX stock price is currently trading near the support levels. If selling pressure increases, the price could break through these levels and move lower. This would be a bearish signal, as it would suggest that the trend is reversing.</p> 
<p>The current value of RSI is 44.07 points. The 14 SMA is above the median line at 44.48 points which indicates that the Starbucks stock is neutral. The MACD line at -0.7795 and the signal line at -0.9068 are below the zero line. MACD is indicating neutrality, trading sideways below the zero line.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Starbucks stock price prediction highlights the bearishness in the chart. Sellers are dominating the higher levels. Technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the SBUX stock price. Starbucks price action suggests that the investors and traders are bearish on the 1-D time frame. The technical analysis suggests that the Starbucks stock price is in a bearish grip and the probability of testing the previous lows in the coming months is high.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $92.61 and $87.79.</li> 
 <li><strong>Resistance Levels:</strong> $98.54 and $103.36.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.</p>

Starbucks Stock: Will SBUX Stock Bounce Back From the $93 Level?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 16, 2023

Elliptic Blockchain Surveillance Firm: North Korean Lazarus Group Theft Spree Reaches $240 Millio...

GALA Price Prediction: Will GALA Hold the Cluster of $0.01500?

John J. Ray III-How Expert of Bankruptcy Cases Related with FTX

Ethereum devs to reboot Holesky testnet after botched launch

Litecoin Post-Halving, Polkadot Prepares USDC Launch, Domini Prepares For 10X growth

Shibarium Hits New Important High as Its Overall Adoption Expands

Join our free newsletter for daily crypto updates!