$SBUX has been in a “Go” trend for several months.
At the beginning of the year, we saw a surge in price action as GoNoGo Oscillator broke out of a Max GoNoGo Squeeze propelling price to new highs. At the end of January, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Price entered an ascending triangle, making higher lows but running into consistent horizontal resistance. Now, we see price has set another higher low and is approaching resistance again, as GoNoGo Oscillator finds further support at the zero line and rallies into positive territory. With momentum resurgent in the direction of the trend and signs of Go Trend Continuation (green circle), we will watch to see if this gives price the push it needs to climb to a new higher high.
