Trading idea for today: Starbucks Corporation (NASDAQ)

#SBUX

The overall trend is upward. The descending pattern of the H2 level is truncated. A bullish divergence has formed on the Awesome Oscillator, and the Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy when an ascending wave structure is formed, where wave (A) breaks through the inclined channel of the truncated descending pattern.

Stop Loss under the local minimum of the truncated descending pattern.

Target levels:

Take Profit 1 – in the range of the inclined channel of the main descending pattern;

Take Profit 2 – at the resistance level 120.72.