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Shares of Starbucks Rise to a New 52-Week High

By James Quinn

Shares of Starbucks (NASDAQ:SBUX) traded today at $64.87, breaking its 52-week high. This new high was reached on below average trading volume as 707,000 shares traded hands, while the average 30-day volume is approximately 8.5 million shares.

In the past 52 weeks, shares of Starbucks have traded between a low of $42.05 and a high of $64.87 and are now at $64.56, which is 54% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

Starbucks Corporation retails, roasts, and provides its own brand of specialty coffee. The Company operates retail locations worldwide and sells whole bean coffees through its sales group, direct response business, supermarkets, and on the World Wide Web.

Based on a current price of $64.56, Starbucks is currently 0.6% above its average consensus analyst price target of $64.20. The stock should discover initial support at its 50-day moving average (MA) of $58.98 and subsequent support at its 200-day MA of $58.72.

SmarTrend recommended that subscribers consider buying shares of Starbucks on March 27th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.96. Since that recommendation, shares of Starbucks have risen 13.4%. We continue to monitor SBUX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Starbucks

Ticker(s): SBUX