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Watch for Starbucks Corp to Potentially Pullback After Gaining 1.31% Yesterday

By Nick Russo

Starbucks Corp (NASDAQ:SBUX) traded in a range yesterday that spanned from a low of $82.83 to a high of $84.51. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $84.01 on volume of 4.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 24.6%. We continue to monitor SBUX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Starbucks Corp share prices have moved between a 52-week high of $84.51 and a 52-week low of $47.37 and are now trading 78% above that low price at $84.43 per share. The 200-day and 50-day moving averages have moved 0.89% higher and 0.89% higher over the past week, respectively.

Keywords: rebounders starbucks corp

Ticker(s): SBUX