Starbucks: bullish divergence on Momentum indicator

Starbucks quotes area below 14 day moving average. Marked a series of 3 consecutive higher lows, bullish divergence on Momentum indicator.

Starbucks, June 28 stock closing price was $59.18 (+0,37%). Marked a series of 3 consecutive higher lows. For today trading session the forecast is for price movements between support and resistance levels. To be noted a bullish divergence on Momentum indicator.

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Simple Moving Average (SMA)
Starbucks quotes are below 14 day moving average (SMA value is 60.19). The short term view is still bearish, however for today trading session we can’t exclude rebounds towards the first resistance levels.
Wal-Mart Stores daily chart shows a slight decrease in volumes compared to the previous day. This could be a sign of a significant move to come.

Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 28/06/2017.

Performance: 7 trading days= -1.60% – 15 trading days= -7.76% – 30 trading days= -2.10%

Resistance levels: R1= 59.35 – R2= 59.53 – R3= 59.98
Pivot Point: 59.08
Support levels: S1= 58.90 – S2= 58.63 – S3= 58.18

Buying opportunity above 59.39, targets minor resistance at 60.14 and perhaps as far as strong resistance at 60.65, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 62.00.

Selling opportunity below 58.95, targets minor support at 58.19 and perhaps as far as strong support at 57.68, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 56.35.

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