X, SBUX update 4/27

X: fell off a cliff on earnings yesterday. Therewith it only completed 3 waves up off the recent low. That’s why profit taking after 3 big waves up is prudent as one can’t know beforehand if a 5th wave will come. One can buy the potential 4th wave low (23.6-38.2% retrace) but please set VERY tight stops

x weekly

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SBUX: also fell off a cliff on earnings today. But, we warned about it often on TWTR… So no real surprise here as the daily chart was massively overbought. Price should bottom in the 58-56 target zone for wave ii/a

sbux daily.png