Starbucks Wave Analysis – 2 May 2025

- Starbucks reversed from support zone
- Likely to rise to resistance levels 85.00 and 90.00

Starbucks recently reversed up from the support zone between the key support level 76.20 (which stopped the previous wave A at the start of April) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the C-wave of the previous intermediate ABC correction (2) from the start of March.

Given the strength of the support level 76.20 and the bullish divergence on the daily Stochastic, Starbucks can be expected to rise to the next resistance levels 85.00 and 90.00.