Starbucks may fall to 66.50 - 67.90

75.1 is our pivot point.

Our preference

The downside prevails as long as 75.1 is resistance.

Alternative scenario

Above 75.1, look for 77.6 and 79.1.

Comment

The RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 78.0833 and 78.1866). Finally, Starbucks has penetrated its lower daily Bollinger band (73.02).

Supports and resistances

79.1 **

77.6 *

75.1 **

74.1

72.51 (USD-last)

69.4

67.9 **

66.5 *

65 **

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