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Watch for Shares of Starbucks Corp (SBUX) to Approach Resistance at $56.84

By Shiri Gupta

Starbucks Corp (NASDAQ:SBUX) has opened bullishly above the pivot of $55.28 today and has reached the first level of resistance at $55.85. Investors may be interested in a cross of the next upside pivot targets of $56.84 and $58.40.

Potential upside of 15.2% exists for Starbucks Corp, based on a current level of $55.50 and analysts' average consensus price target of $63.96. The stock should hit resistance at its 200-day moving average (MA) of $55.83, as well as support at its 50-day MA of $54.35.

In the past 52 weeks, shares of Starbucks Corp have traded between a low of $47.37 and a high of $61.94 and are now at $55.50, which is 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

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