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SmarTrend Watching for Potential Pullback in Shares of Starbucks Corp After 8.57% Gain

By Amy Schwartz

Starbucks Corp (NASDAQ:SBUX) traded in a range yesterday that spanned from a low of $66.25 to a high of $69.60. Yesterday, the shares gained 8.6%, which took the trading range above the 3-day high of $65.68 on volume of 10.0 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 Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Starbucks Corp in search of a potential trend change.

Starbucks Corp share prices have moved between a 52-week high of $99.72 and a 52-week low of $50.02 and are now trading 42% above that low price at $71.14 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 2.1%.

Keywords: rebounders starbucks corp

Ticker(s): SBUX