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SBUX – Chart of the Week for April 25, 2024

by | Apr 25, 2024

Chart of the week this week is SBUX.

Quick message before we get started:
If you’ve been a gold watcher, you know that it’s been on fire this year. But I believe “buy and hold” isn’t the way to capture the best gains. Because I’ve developed a brand new trading strategy that has been capturing 2 and 3 digit gains from ticker GLD as we enter on Wednesday and exit on Monday. Click here to check it out.

Ok, now onto this week’s epic chart…

This Week’s Chart

SBUX has a “measured bounce” setup.

But not just that… it has a nested measured bounce setup with a smaller version inside the bigger version that setup from the 2020 lows.

You are going to need some time for this pattern to play out. Shares or LEAPs (long dated options) out to 2026 are your best bet.

An aggressive entry would be right now.

For a more conservative entry, you can wait for a move up above the daily Roadmap Line (RML)*

The long term conservative target is up around $140 and more aggressive target is around $160 for now.

Good luck out there!

The Chart

You can go check out my chart marked up with notes (entries, targets, etc) right here: https://www.tradingview.com/x/kR9ANZAW/

More Free Trade Ideas

I give out free trade ideas like this all the time on my daily morning show “Morning Monster”, as well as my “30 Minutes of Awesome” show Tuesdays at 5pm Eastern.

To get notified every time I go live with those shows, click here to subscribe to my YouTube channel.

Hope to see you there.

— Jeffry Turnmire

 

PS> *The RoadMap Line or RML is based on my Market Roadmap indicator. Market Roadmap is my custom-built TradingView indicator that helps me spot many of the trades I post, including this one. If you’d like to grab Market Roadmap for yourself — and get access to some of my private Discord channels, too  — just click here to pick it up for $5!

In my Discord channels, I give out EVEN MORE free trade ideas — so think about it: Between my free YouTube content, the Discord channels and the Market Roadmap indicator, you could have more trades than you can handle every single week!

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