Starbucks may fall to 68.90 - 70.70

Our pivot point stands at 79.4.

Our preference

The downside prevails as long as 79.4 is resistance.

Alternative scenario

The upside breakout of 79.4 would call for 82.4 and 84.3.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 79.5723 and 79.3232). Finally, Starbucks is trading below its lower daily Bollinger band (standing at 76.47).

Supports and resistances

84.3 **

82.4 *

79.4 **

78.2

76.26 (USD-last)

72.5

70.7 **

68.9 *

67.2 **

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