March 6 Chart of the Day - Starbucks
Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews
Starbucks (SBUX) has been making waves in the headlines this past week for all sorts of reasons—none of which really concern us.
What does matter? The recent sharp drop in its share price, leaving traders and investors wondering where it might find support. Let’s take a closer look.
Today, we’ll analyze their chart through a price action technical lens to identify potential key levels and where price could be headed next.
We have featured over 450+ Charts of the Day since May 2023 and teach Price Action Trading for FREE to traders who join our Highly Rated Trade Room.
Monthly Chart

On the monthly chart, we can see that after reaching its all-time high (ATH) of $126.32 in 2021, the price took a sharp dive below $75 before staging a strong recovery—only to face another steep pullback.
Last summer, the stock surged past $115, only to retreat once again.
While this kind of movement is typical in price action, it’s far from popular among investors.
Weekly Chart

On the weekly chart, we can trace how the price set its all-time high (ATH) before cycling through a series of declines and rebounds—down, up, down, up, and down again.
But why does a stock often pull back after reaching new ATHs?
There are several possible reasons, including traders and investors locking in profits.
Regardless of the cause, one thing is clear—over the past year, the price has been forming a pattern of higher highs and higher lows, signaling a sustained uptrend.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.
Armed with precision oriented charts like these both traders and investors can formulate their respective plans.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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