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Starbucks Corp Set to Possibly Pullback After Yesterday's Rally of 1.47%

By Nick Russo

Starbucks Corp (NASDAQ:SBUX) traded in a range yesterday that spanned from a low of $50.26 to a high of $51.26. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $50.66 on volume of 8.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Starbucks Corp share prices have been bracketed by a low of $47.37 and a high of $61.94 and are now at $51.07, 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.2% while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Starbucks Corp on June 5th, 2018 by issuing a Downtrend alert when the shares were trading at $55.99. Since that call, shares of Starbucks Corp have fallen 10.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders starbucks corp

Ticker(s): SBUX