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Watch for Shares of Starbucks Corp (SBUX) to Approach Resistance at $60.39

By Amy Schwartz

Shares of Starbucks Corp (NASDAQ:SBUX) have bullishly opened above the pivot of $59.19 today and have reached the first resistance level of $59.89. Analysts will be watching for a cross of the next upside pivot targets of $60.39 and $61.59.

In the past 52 weeks, Starbucks Corp share prices have been bracketed by a low of $50.84 and a high of $64.87 and are now at $60.33, 19% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

Starbucks Corp (NASDAQ:SBUX) has potential upside of 5.7% based on a current price of $60.33 and analysts' consensus price target of $63.75. The stock should find initial support at its 50-day moving average (MA) of $58.98 and further support at its 200-day MA of $58.72.

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.

Keywords: pivot alerts starbucks corp

Ticker(s): SBUX