Starbucks two-way trade
SBUX has previously shown many trading patterns such as and flags. Currently, the stock is in an upward flag, but also on the middle of two Fibonacci levels. The blue line represents short-term resistance if the stock breaks that I believe it will stay in this Fibonacci level with enough time to hold until the next resistance line. This upward pressure is also backed by the breaking out of a flap pattern and going . However, if the stock breaks the flap pattern downwards then it may be stronger as the curve has also reached its resistance, so hence I put a short order in until the next support line. Also, the 50 could potentially act as upper resistance, hence why I have cut my take-profit lower.