- The stock of Starbucks Corporation (NASDAQ: SBUX) is displaying bearish tendencies, consistently reaching new lower lows in its price.
- SBUX has a share float of $1.11 billion.
- SBUX is trading below the 100-day and 200-day EMA levels.
The Starbucks Corporation (NASDAQ: SBUX) and its affiliated companies function together to roast, market, and sell specialty coffee globally.
Trend Analysis
On the daily time frame, we find that the stock is falling and lower lows have been attained. SBUX has decreased by 0.93% in the last 24 hours to trade at $96.23.
The income statement of the company reveals that the stock is decreasing in its profit margin percentage along with its net income. For 2022, the profit margin was 14%, but for 2023 it came down to 10%. This reflects a 4% decline, representing the poor financial performance of the company.
SBUX stock price of SBUX has declined by over 5.37% in the last three months. The stock is showing a poor return and this is a bearish sign.
The stock price is currently moving inside a falling wedge pattern. The price is now moving near the support level and the probability for the price to decline increases if it breaks below this support level.
Starbucks Corporation (SBUX) Stock Price Analysis
sbux by writer50_tcr on TradingView.com
When we consider Starbucks Corporation’s shares, we see that both the 100-day and 200-day EMAs are currently positioned above the current price level. This alignment of EMAs strongly hints at the possibility of a price decline in the near future.
Examining the MACD indicator for Starbucks Corporation , we notice that both the MACD and signal lines are situated below the zero line. A green histogram in the MACD indicator suggests a negative momentum in the market, indicating a potential downward trend.
The RSI line for SBUX is situated beneath the SMA line, which is considered a negative signal and could potentially lead to a decline in the stock price.
Additionally, the chart volume for Starbucks Corporation (NASDAQ: SBUX) stock has been consistently decreasing, indicating low market activity. This decline in volume suggests the likelihood of a price decrease, as it signifies that sellers are actively making positions.
Conclusion
The analysis suggests that Starbucks Corporation’s (SBUX) stock is showing signs of a possible decline. The formation of lower lows in a bearish pattern underscores the stock’s weakness. Moreover, indicators such as the MACD, RSI, and EMAs are giving a poor signal. Thus, the price is likely to fall in the upcoming days.
Technical Levels
- Support Level: $93.
- Resistance Level:- $103.97.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.