Starbucks may fall to 71.00 - 73.10

83 is our pivot point.

Our preference

As long as 83 is resistance look for 73.1.

Alternative scenario

The upside breakout of 83 would call for 86.4 and 88.5.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 80.0683 and 80.6251).

Supports and resistances

88.5 **

86.4 *

83 **

81.6

79.91 (USD-last)

75

73.1 **

71 *

68.9 **

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