SBUX Starbucks Explodes Higher After Q4 Earnings 11-5-18

SBUX Starbucks Explodes Higher After Q4 Earnings 11-5-18

SBUX Starbucks Explodes Higher After Q4 Earnings 11-5-18

Starbucks Surges After Blowout Q4 Helped by ‘Rocket Fuel’ Alibaba Deal in China

Starbucks (SBUX) shares surged Friday after the world’s biggest coffee chain posted stronger-than- expected fourth quarter sales and said its China business rebounded thanks in part to a delivery deal with online retailing giant Alibaba Group Holding (BABA) .

“Accelerating growth in our two targeted long-term growth markets of China and the U.S. acknowledges that these two markets are in very different stages of development,” CEO Kevin Johnson told investors on a conference call late Thursday.

Starbucks Stock Is Getting a Jolt After Investors Breathed ‘a Sigh of Relief’

Hey, maybe Starbucks  (SBUX) U.S. business isn’t so bad.

That’s what some investors appeared to be thinking Friday morning. Starbucks stock was up almost 11% to about $65 per share in early trading (Friday)…

…following the previous night’s release of fiscal fourth-quarter financial results that included 4% growth in comparable-store sales, or “comps,” in the U.S. and the Americas.

That beat Wall Street’s expectations, but that’s not the only reason some analysts called the number a “surprise.”

SBUX Starbucks Corp 11-5-18

SBUX Starbucks Corp 11-5-18

Today's Trade of the Day | 11-5-18

JWN Nordstrom Inc stock price showing relative strength in a stock market showing a bearish tape. Game planning a new swing trade long using a $67.50  buy stop to trigger the entry. Initial profit target comes in at $78 but could be moved higher header into the holiday season. Stop loss on a close below $66.

JWN Nordstrom Inc 11-5-18

JWN Nordstrom Inc 11-5-18

Stocks to Trade | Monday Edition 11-5-18

Bullish Cash Flow: SBUX, AMRN

Bearish Cash Flow: wtw, ftnt, khc, iq, wll, eog, psx, pags, apc, penn, hes, cop, adbe, ea, ba, gild, apa, abbv

New 20 Day Breakout: SBUX, M, ACAD, UAA, UA, UAL, COST

New 20 Day Breakdown: wtw, ftnt, syf, khc, aapl, sm, gis, oke, apc, apa, cms, d, slb

Double Normal Volume: AAPL, PX, SBUX, KHC, V, ABBV, STX, APA, EOG, FTNT, CLVS

Become a Better Trader. Get Notified.

Tape Reading the SPY ETF

The SPY ETF and the stock market awaits the elections tomorrow (11-6-18). The daily charts remains in conflict where a bullish long-term trend appears on the brink of breaking. Many major indices are now trading below the 200 period simple moving average yet I am not quite ready to declare a bear market. 

The hourly chart shows the bullish gap from last Wednesday "held the bid" which means buyers remained in the market preventing sellers from pushing the price lower. I am not declaring a reversal but price action shows a bullish break of the hourly down trend. The $277 level shows a target to the upside.

If you're having a tough time finding great trades - you're not alone. Be patient, the election indecision makes this a tough tape. Let the dust settle then hop on board the next move that's obvious. My game plans remains in cash flow mode looking for momentum type trades. Not looking to build any positions right now.

SPY ETF 60 Minute Chart 11-5-18

SPY ETF 60 Minute Chart 11-5-18

About the Author

Pete is a full-time trader and mentor since 2000. Author of Equity Trader 101 and the Order Flow Method. He is dedicated to help self-directed traders to bust through the six-figure level.

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