Wednesday’s red candlestick engulfed the previous day’s one. The daily trend is neutral now. We need to see if today’s price action will have any continuation tomorrow. Longer-term the trend is clearly up as SBUX shares hit an all time highs last week. Last week’s low of $93.35 is the line in the sand for speculative longs.
SBUX daily (3 months):
Chart courtesy of http://www.StockCharts.com
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Petros Steriotis, CFTe, MSTA 