Starbucks returns higher - Analysis - 04-08-2022

2022-08-04 12:45:10 GMT (Economies.com)
 

Starbucks' stock (SBUX) returned higher in the intraday levels after reporting  record quarterly profits, beating estimates handily, with the stock rallying 4.25%, or 3.56 points, and settling at 87.27, with trading volumes surpassing 13 million shares, above 10-day averages of 7 million shares.

 

The upward correctional short-term trend dominates, amid positive pressure from the 50-day SMA, coupled with positive signals from the RSI.

 

Therefore we expect more gains for the stock, targeting the resistance of 92.63, provided the support of 78.92 holds on.

 

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Expected trend for today: Bullish 

 
 
 
  Symbol Last Change Chg.%
1.0216
0.0019
0.1873%
1.2091
-0.0026
0.2162%
20.569
0.204
1.004%
89.786
1.308
1.478%
95.91
-0.64
0.66%
1787.585
5.910
0.332%
 
 
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