The bullish DailyPlay for Tuesday, September 15th is Starbucks Corp (SBUX). SBUX has experienced a 7.5% gain over the past month and its 1M and 6M trends turned bullish on August 5th and August 10th respectively.
- Lower commodity input costs (coffee) is expected to aid in margin recovery from 6.9% in 2020 to 16% in 2021
- Gradual reopening of stores globally with digital partnership with Alibaba to drive China growth.
- Earnings Oct 29th in 45 days
- Price has pulled back to $84 area of support and has bounced higher from this level.
- Strong relative strength, technical score (8 out of 10)
- Bullish 1M and 6M trend