SBUX – Starbucks Corp.

Starbucks Corp (8/25/15) Short-term (Neutral) : Intermediate Term (Neutral) : Long-term (Neutral) Starbucks has settled into a very neutral position, as the stock continues to base and even the moving averages flatten out and momentum, in terms of the MACD, edge toward zero. Yesterday's positive pop hit the 200-day moving average square on and found resistance. The July peak at 58.84 will soon be joined by a nearly year-long downtrend line, making it the price to beat. In the meantime, the slightly higher lows gives us a key level of support approaching 54. The stock had an exceptional run from a base under 41, unabated until hitting 59. Therefore there is no real base of consequence to call support, leaving us with only projections. AT this point, we'd take the 5 point range that we've been in an use it to target 49, if we break below 54. Being that we are neutral, a move above 59 first fills the gap at 60.64 from April, providing some resistance. The same 5 point range would give us a 64 price target, which, coincidentally, is the high from October 2015. If they bears can't break this stock down heading into mid-October, I'd favor the bulls for 2016. sbux