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Starbucks Corp (SBUX) Breaks Through Resistance at $71.00

By David Diaz

Shares of Starbucks Corp (NASDAQ:SBUX) have bullishly opened above the pivot of $70.72 today and have reached the first resistance level of $71.00. Analysts will be watching for a cross of the next upside pivot targets of $71.15 and $71.58.

Starbucks Corp (NASDAQ:SBUX) is currently priced 9.9% above its average consensus analyst price target of $63.96. Starbucks Corp shares have support at the 50-day moving average (MA) of $67.95 and additional support at the 200-day MA of $59.92.

In the past 52 weeks, shares of Starbucks Corp have traded between a low of $47.37 and a high of $72.18 and are now at $71.01, which is 50% above that low price. The 200-day and 50-day moving averages have moved 0.42% higher and 0.79% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Starbucks Corp on January 25th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.90. Since that recommendation, shares of Starbucks Corp have risen 5.7%. We continue to monitor SBUX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts starbucks corp

Ticker(s): SBUX