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Watch for Starbucks Corp to Potentially Pullback After Gaining 1.08% Yesterday

By David Diaz

Starbucks Corp (NASDAQ:SBUX) traded in a range yesterday that spanned from a low of $88.26 to a high of $89.60. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $88.23 on volume of 2.6 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, shares of Starbucks Corp have traded between a low of $69.03 and a high of $99.72 and are now at $89.75, which is 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.2%.

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: rebounders starbucks corp

Ticker(s): SBUX