Over the past 11-month period, Starbucks coffee has declined 60% in stock price. Current price action is consolidating into a seemingly bullish Ascending Triangle formation which indicates accumulation with $28 acting as resistance. As the pattern develops volume contracts; followed by an expansion in volume as breakout occurs. Volume precedes price, and so, trade in the direction of OBV breakout which represents a cumulative total of buy and sell volume. As the northern hemisphere enters the colder autumn/winter months, the consumption of hot coffees may increase; -picture the city commuters with their scarves and coffees…
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