Starbucks reported its 2023 results. What next?
Starbucks Corp. delivered a solid financial 2023 report. Revenue for Q4 of the 2023 fiscal year reached 9.4 billion USD, with a relative increase of 11%. Net profit per share for the same period increased by 39% to 1.06 USD. The company's management plans to maintain sales growth rates above 10% and net profit above 15%.
Therefore, today, we focus on the Starbucks Corp. (NASDAQ: SBUX) stock chart.
On the D1 timeframe, support has formed at 90.55, with resistance at 93.71, which was breached on Thursday, 2 November. Also, yesterday, a "descending wedge" pattern was breached, indicating a possible change in the trend to an upward one.
On the H1 timeframe, if there is a rebound from the 103.57 level, a new upward trend may begin, with a short-term target set at 107.38. In the medium term, the target for a price increase could hover around 110.84.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Therefore, today, we focus on the Starbucks Corp. (NASDAQ: SBUX) stock chart.
On the D1 timeframe, support has formed at 90.55, with resistance at 93.71, which was breached on Thursday, 2 November. Also, yesterday, a "descending wedge" pattern was breached, indicating a possible change in the trend to an upward one.
On the H1 timeframe, if there is a rebound from the 103.57 level, a new upward trend may begin, with a short-term target set at 107.38. In the medium term, the target for a price increase could hover around 110.84.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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