Starbucks may rise to 104.10 - 106.60

Our pivot point stands at 91.9.

Our preference

As long as 91.9 is support look for 104.1.

Alternative scenario

Below 91.9, expect 87.9 and 85.4.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 96.368 and 90.5018).

Supports and resistances

109 **

106.6 *

104.1 **

101.7

96.58 (USD-last)

93.5

91.9 **

87.9 *

85.4 **

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