Is SBUX a buy right now? Let’s look at the details…
As of Wednesday, January 29th, Starbucks (SBUX) has recently reported positive fourth quarter (FQ1 2025) earnings, and the stock is up 8% from the previous day’s close.
From a technical standpoint, analyzing the SBUX weekly chart, August 12, 2024, was a strong trading week for SBUX.
The stock rose back above the $90 horizontal level, then retested/held this general area, and is currently trading around $108 this week.
While approaching some near term overbought conditions, momentum has been strong, with price now challenging the weekly $109 highs of May 2023.
Price “may” initially pause or consolidate/retrace around these previous weekly $109 highs.
However, if SBUX can maintain its momentum and close above $109, it has the potential to eventually retest the previous highs of around $116 set in July 2021.
Notice how it’s not as simple as “stock go up = good”?
You have to watch trends and dig into details… and only one tool saves you a boatload of time when you need it.
Happy Trading!
