February 28, 2021, 7:53 pm EST
Want a Coffee? Starbucks (SBUX)
Guess which items will be on-demand when people are going back to normal after COVID-19 stay-home and work-from-home orders? It is more likely Starbucks (SBUX) will be on the list.
Investors and traders also agree with this conclusion as SBUX stock price made a new 52-week high on 02/26 when major indexes suffered a sharp sell-off.
Another good news is that stimulus payment of $1400 and continuous unemployment check are coming soon. It is likely to boost SBUX sales from government money to pay for the latte.
Technically, a similar pattern appeared again for SBUX that mapped September-November 2020 to November 2020 – February 2021 as shown. It was a gap-up breakout and rally last time so it is possible to hope for a similar outcome this time. By the way, 52 weeks high during tough market conditions last week already proved that SBUS is a strong stock.
Sell-stop is 100.
