Hubert Senters here.
Let’s take a look at Starbucks on a breakout. You have had a nice little valid uptrend above the cloud. It is respected for the most part. The turning line, the standard line and the cloud which is a good sign. Now it’s breaking away to the high side.
You got to kind of figure out where it’s going so it’s a couple ways you can do this you just do a wild ass guess called a wig. But we don’t want to do that. So another approach that we can do is if the weekly chart no real price action right there. So now what we’re going to do is we’re going to back up to the daily again.
And then I’m just going to do a Fibonacci extension or projection different term for different platforms. What I’m going to do is I’m going to go from this low right here to that high right there then to this low right there. It’s not perfect but it’ll get the job then for us $88.60, $92.61 to $96.62 and $99.09 for potential targets for Starbucks.
Hubert.
