United

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>SBUX stock price shows a falling parallel channel and is trying to smash the 20-day EMA.</a> </li> 
 <li> <span>2</span> <a>Buyers are trying to regain the momentum and attempt a pullback.</a> </li> 
</ul> 
<p>Starbucks Corporation (SBUX stock) price was trading close to the 20-day EMA and showed a retracement from the top of $115. Recently, Q1 earnings triggered negative sentiments after which SBUX stock continued to lose gains, reversed from the top, and slipped below the round mark of $100, indicating selling pressure in the past weeks. Furthermore, the SBUX stock price is near the channel lows, attempting to surpass the 20-day EMA to regain momentum.</p> 
<p>SBUX share price is now at a make-or-break zone of $90, which needs to be sustained for a reversal and leads to healing the bulls, whereas on the flip side if it slips below it, it will retest the neckline of $75 soon. As per the options chain, at the strike price of $95, a massive open interest of 579 hundred shares on the call side shows a strong resistance zone, whereas, at the strike price of $89, a decent put writing of 396 hundred shares was there. Overall, the options chain favored the sellers who had trapped the long positions and defeated the bulls decisively. Additionally, the sellers will continue to dominate, and selling pressure will lead to retesting the swings of $80.</p> 
<p>At press time, SBUX stock price was $92.85 with an intraday gain of 0.52%, showing neutrality in yesterday’s session. Moreover, the trading volume increased by 0.65% to 6.989 Million, and the market cap is $106.35 Billion. However, analysts have maintained a neutral rating with a yearly target price of $112.57, suggesting volatility may continue in the upcoming sessions.</p> 
<p>Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, the Middle East, Africa, Latin America, and Caribbean.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-sbux-stock-continue-to-slip-or-attain-a-reversal-strong"><strong>Will SBUX Stock Continue to Slip or Attain a Reversal?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="752" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-214.png" alt="Starbucks (SBUX Stock) Attempts Pullback, Will SBUX Retain $100?" class="wp-image-174291" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-214.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-214-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-214-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-214-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-214-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-214-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-214-1140x536.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: SBUX Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, SBUX stock price is trading close to the 20-day EMA and looking for a pullback to retest the round spot of $100. Moreover, the chart suggests that SBUX stock is close to the demand zone and may recover in the upcoming sessions. However, bulls need to attain strong momentum to rebound. Otherwise, the selloff will continue because of the bearish market sentiments.</p> 
<p>The RSI curve stayed below neutrality and is forming a bullish divergence, suggesting that SBUX stock may attain a pullback in the upcoming sessions.The MACD indicator shows the MA lines converging with the signal line, indicating a reversal from the lows of $90.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/10/06/dfs-stock-nyse-dfs-slips-momentumwill-dfs-breach-20-day-ema/" target="_blank" rel="noreferrer noopener">SBUX stock price</a> is trading close to the 20-day EMA and shows selling pressure from the past sessions. Furthermore, SBUX share price has continued to drag the gains inside the falling channel and has lost momentum. Moreover, the SBUX stock has slipped below $100, a negative sign for the bulls, which may retest soon.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $90 and $82</p> 
<p>Resistance Levels: $100 and $110</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

Starbucks (SBUX Stock) Attempts Pullback, Will SBUX Retain $100?

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