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Look for Shares of Starbucks Corp to Potentially Rebound after Yesterday's 1.26% Sell Off

By James Quinn

Starbucks Corp (NASDAQ:SBUX) traded in a range yesterday that spanned from a low of $65.71 to a high of $66.61. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $66.45 on volume of 3.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Starbucks Corp on August 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $52.62. Since that recommendation, shares of Starbucks Corp have risen 26.7%. We continue to monitor SBUX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Starbucks Corp share prices have moved between a 52-week high of $68.98 and a 52-week low of $47.37 and are now trading 39% above that low price at $65.81 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.3%.

Keywords: rebounders starbucks corp

Ticker(s): SBUX