I just don't know what came over me. I missed National Coffee Day on Tuesday, but this morning I am looking at the charts of Starbucks Corp. (SBUX) .
Earnings are not released until early November, but the company's fall drinks are available now. Starbucks on Wednesday declared a $0.45/share quarterly dividend, which was a 9.8% increase from the prior dividend of $0.41. Also a sell-side firm rated its fundamental rating on stock.
But hey we are more interested in the charts.
In this daily bar chart of SBUX, below, we can see that prices only made a shallow correction during September. SBUX is trading above the rising 50-day moving average line and above the bottoming 200-day moving average line. The 50-day line can be seen crossing above the 200-day line last month for what is commonly called a golden cross.
This math-driven buy signal is typically late but can be effective in long-trending markets. The On-Balance-Volume (OBV) line moved sideways in September, but shows an improvement from early August -- mixed. The Moving Average Convergence Divergence (MACD) oscillator told us that the trend was weakening last month, but now shows a slight improvement. Stay tuned.
In this weekly bar chart of SBUX, below, we see a picture that news more development. Prices are trading above the declining 40-week moving average line. The weekly OBV line is still in a longer-term decline from last August. The MACD oscillator only just crossed above the zero-line this August.