I am still looking at Starbucks as a viable short setup on any further weakness, seen bear-flagging on the daily chart. The weekly chart is an even more pronounced bear flag.
On the long side, if DFRG moves up through $27 into a market rally I would consider it.
Drop me your top tickers overnight.
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JNPR-Setting up for a nice bull run
CME-Put Option bear flag
Used to own Starbucks, it did well and got called away… now it’s time to reassess the fundamentals again. Many stores were opened, USD went against them, coffee was good to them – it’s a bit of a mixed picture. SBUX looks heavily sold here, going into a couple of months which average out as reasonable for the shares, but I suppose it could get “Amazoned” as people stop believing in the concept of earnings growth and the future. Suppose the Elliott wave adherents see a bottom here.