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Starbucks Corp (SBUX) Approaches New Upside Target of $50.66

By Shiri Gupta

Shares of Starbucks Corp (NASDAQ:SBUX) have bullishly opened above the pivot of $50.21 today and have reached the first resistance level of $50.40. Analysts will be watching for a cross of the next upside pivot targets of $50.66 and $51.11.

Potential upside of 26.6% exists for Starbucks Corp, based on a current level of $50.51 and analysts' average consensus price target of $63.96. The stock should find initial resistance at its 50-day moving average (MA) of $54.93 and further resistance at its 200-day MA of $56.72.

Over the past year, Starbucks Corp has traded in a range of $47.37 to $61.94 and is now at $50.51, 7% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.9%.

SmarTrend is tracking the current trend status for Starbucks Corp and will alert subscribers who have SBUX in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts starbucks corp

Ticker(s): SBUX