Flag Pattern on SBUX Let's wait for the breakout

Today, we will share a clear trading situation we are observing on SBUX.

Main items to pay attention to:

a) Ascending channel: key structure of the bullish movement

b) Support Resistance Area: The price is above this level showing strength on the bullish view

c) Flag Pattern: Continuation structure supported on the Ascending trendline + Support zone


How to execute a setup?

We will open positions above "B," and we will aim for a final target on the 2nd fibo extension. We will protect our setup on the first fibo extension. Stop below "C". We expect a 30 days resolution if the price executes our order. Cancel if the price goes below the stop level.

Thanks for reading!