Starbucks may fall to 85.60 - 87.70

Our pivot point is at 98.2.

Our preference

Target 87.7.

Alternative scenario

Above 98.2, look for 101.7 and 103.8.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is below its 20 day moving average (96.3198) but above its 50 day moving average (92.0803). Finally, Starbucks is trading below its lower daily Bollinger band (standing at 94.16).

Supports and resistances

103.8 **

101.7 *

98.2 **

96.8

93.885 (USD-last)

89.7

87.7 **

85.6 *

83.6 **

Number of asterisks represents the strength of support and resistance levels.