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Starbucks Corp (NASDAQ: SBUX) Stalls at Resistance

|Includes:Starbucks Corporation (SBUX)

February 4, 2010

Shares of Starbucks Corp (NASDAQ: SBUX) reached an important resistance level at $24.00 on December 18, 2009. Starbucks has remained below this level into February.

The $24.00 level is the 50% retracement for the entire Starbucks’ decline in the 2008-2009 bear market. If Starbucks shares have a chance of moving higher in coming weeks, this level must be surpassed.

Starbucks has now declined to its 50-day moving average, closing on Wednesday, February 3 at $22.43. A close below the $22.00 level would likely result in lower lows. A close above $24.00 would take this stock to at least $27.40..

Disclosure: The ( Stock Timing Strategy holds a position in Starbucks
Stocks: SBUX