This trend line could mean big upside in SBUX
With a potential Joe Biden victory on the horizon, we start looking into stocks that could potentially great benefit from the Democrat's election. One of the biggest winners in this category are the China consumer plays. Starbucks is in that basket of stocks, which could spell out a potential for a long play/investment. On the technical front, we have the stock currently trading at an important trend line level, dating back roughly 15 years and capturing some big reactions in the stock's history and currently acting as support. Additionally, the technicals have shown a golden cross crossover of the short term and long term moving averages in recent weeks with a momentum crossover on the monthly chart.
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