Starbucks may fall to 70.80 - 72.90

Our pivot point stands at 83.2.

Our preference

As long as 83.2 is resistance look for 72.9.

Alternative scenario

Above 83.2, look for 86.8 and 88.8.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the share stands below its 20 and 50 day moving average (respectively at 79.7018 and 81.1444).

Supports and resistances

88.8 **

86.8 *

83.2 **

81.8

79.65 (USD-last)

75

72.9 **

70.8 *

68.7 **

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