United

Million

Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>SBUX stock price has shown buying interest in the last trading session.</a> </li> 
 <li> <span>2</span> <a>Buyers are looking to retest the channel highs of $100.</a> </li> 
</ul> 
<p>Starbucks Corporation (NASDAQ: SBUX) SBUX share price was trading inside the falling channel and has slipped below the round mark of $100. Moreover, the price action shows the lower-lows formation and sellers persisted in gaining traction and continued to push slowly &amp; steadily and dominate the battle over the past sessions. However, the correction was not very intense and SBUX stock is closer to the demand zone, where buyers are starting to accumulate and are looking for a significant pullback. Moreover, the chart shows that SBUX stock is heading to retest the $100 mark and are trying to retain the swing. Amid the downtrend, SBUX stock did not indicates any further downside and suggests that a fresh reversal can be seen in the upcoming sessions.</p> 
<p>SBUX stock price is trading below neutrality and shows that profit booking persisted in the past sessions. However, the SBUX stock surpassed the 20 day EMA and buyers are recapturing the momentum and are willing to hold $100. The options chain shows the strike price of $95, strong open interest of 6640 hundred shares on the put side, whereas 3516 hundred shares on the call side mean that follow on buying will continue and SBUX stock may retest the $100 mark in the upcoming sessions.</p> 
<p>At press time, SBUX stock price is trading at $93.65 with an intraday gain of 2.37%, showing buying interest in the past sessions. Moreover, the trading volume increased by 0.22% to 4.90 Million and the market cap is $107.267 Billion. However, analysts have maintained a buy rating with a yearly target price of $111.73 suggesting a growth outlook for the coming 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, Middle East, Africa, Latin America, and Caribbean.</p> 
<h2 class="wp-block-heading" id="strong-will-sbux-stock-retain-100-or-drags-to-85-strong"><strong>Will SBUX Stock Retain $100 or Drags to $85?</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-498.png" alt="Starbucks (NASDAQ: SBUX) Surpasses 20 Day EMA, Time to Buy SBUX?" class="wp-image-176499" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-498.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-498-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-498-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-498-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-498-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-498-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-498-1140x536.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 surpassed the 20 day EMA and is close to the round mark of $100. Furthermore, the technicals suggest that follow on buying will continue and SBUX share price may retest the swing of $100 in the upcoming sessions. Moreover, the SBUX share has retested the 23.6% Fibonacci retracement level and is trying to retain the 38.2% zone near $100. Furthermore, the price action shows the buyers’ accumulation and their willingness to hold $100.</p> 
<p>The RSI curve is near neutrality and shows a bearish divergence suggesting that volatility may continue in the coming sessions.</p> 
<p>The MACD shows a bullish crossover and green bars on the histogram, suggesting a positive outlook for the next sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/10/16/tesla-stock-price-prediction-can-earnings-trigger-a-breakout/" target="_blank" rel="noreferrer noopener">Starbucks stock </a>(SBUX) price slipped below the round spot of $100 and is inside the falling channel indicating a downtrend in the past sessions. However, the correction has ended and fresh reversal is anticipated in the coming sessions. If bulls succeed in retaining $100, a sharp short covering move toward $100 can be seen which will extend to $120.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $90 and $85</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 (NASDAQ: SBUX) Surpasses 20 Day EMA, Time to Buy SBUX?

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