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Trading idea for Starbucks Corporation (NASDAQ)

Starbucks Corporation (NASDAQ)
#SBUX

The trend is downward. The stock is trading within the range of the 365 and 135 EMA on the H1 timeframe. The upward wave structure is truncated.
On the Awesome Oscillator, a bearish divergence is observed, while the Stochastic Oscillator indicates overbought conditions.

Trading idea:
Enter a sell position upon the formation of a downward wave structure, where wave (A) breaks through the upward truncated channel.

Stop Loss: 87.60
Target levels: 84.80 and 81.20

Author: GC

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