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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Starbucks Corp (NASDAQ: SBUX) Stalls at Resistance 1 comment
    Feb 3, 2010 4:27 PM | about stocks: 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 Fibtimer.com (www.fibtimer.com) Stock Timing Strategy holds a position in Starbucks
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  • delcape
    , contributor
    Comments (42) | Send Message
     
    anyone who bought SBUX a year ago @ $8.00, (it;s low), then sold yesterday @$22.........almost tripled. ~hard to beat. Buy low, sell high. SOS..........
    4 Feb 2010, 06:04 PM Reply Like
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