{"id":12354,"date":"2025-03-06T03:49:36","date_gmt":"2025-03-06T03:49:36","guid":{"rendered":"https:\/\/alchemymarkets.wpengine.com\/?post_type=market_insights&p=9258"},"modified":"2025-05-12T08:23:04","modified_gmt":"2025-05-12T08:23:04","slug":"sbux-march-2025","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/chart-of-the-day\/sbux-march-2025\/","title":{"rendered":"Starbucks (SBUX) At Double Bottom Neckline Resistance"},"content":{"rendered":"\n

Fuelled by a surprisingly positive earnings report in January, the SBUX has rallied into a double bottom neckline at approximately $114.48 to $115.30. This rejection comes with no weekly bearish divergence, but there is a daily bearish divergence<\/a>.<\/p>\n\n\n\n

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Fading the neckline here to trade towards the lows at approximately $68.20-$75.46 is a possible play here, but would be a risky one. Multiple key supports below have formed since 2024, offering several bounce points for the asset.<\/p>\n\n\n\n

The closest support lies between $104.33-$107.84, a prior resistance that has now been overcome. A long position could be considered in this area if the price holds, and SBUX consolidates.<\/p>\n\n\n\n

The most critical zone to watch would be between $100.16-$102.80<\/span><\/strong>, where a bullish market gap lies, and aligns with the 50% Fibonacci level at $102.26. If the price dips slightly below, the 61.80% Fib support would come in at $98.68.<\/p>\n\n\n\n

All in all, SBUX is forming a bullish reversal pattern, but keep an eye on support levels within the range for now. A rejection assisted by a daily bearish divergence could mean SBUX needs to consolidate further before a true breakout.<\/p>\n\n\n\n

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GBP\/USD Elliott Wave: Rally Accelerates<\/a><\/blockquote>