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After Yesterday's Rally of 1.62% Shares Could Potentially Pullback

By David Diaz

Starbucks (NASDAQ:SBUX) traded in a range yesterday that spanned from a low of $57.81 to a high of $59.27. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $58.66 on volume of 6.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Starbucks. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Starbucks in search of a potential trend change.

Starbucks share prices have moved between a 52-week high of $64.00 and a 52-week low of $42.05 and are now trading 40% above that low price at $59.01 per share. The 200-day and 50-day moving averages have moved 0.02% higher and 0.23% lower over the past week, respectively.

Keywords: rebounders Starbucks

Ticker(s): SBUX