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Starbucks (SBUX) Crosses Pivot Point Resistance at $55.25
[January 03, 2013]

Starbucks (SBUX) Crosses Pivot Point Resistance at $55.25

Jan 03, 2013 (SmarTrend(R) News Watch via COMTEX) -- Starbucks (NASDAQ:SBUX) has opened bullishly above the pivot of $54.75 today and has reached the first level of resistance at $55.25. Investors may be interested in a cross of the next upside pivot targets of $55.49 and $56.23.

Starbucks has overhead space with shares priced $55.29, or 7.2% below the average consensus analyst price target of $59.56. The stock should find initial support at its 200-day moving average (MA) of $51.98 and further support at its 50-day MA of $50.90.

Over the past year, Starbucks has traded in a range of $43.04 to $62.00 and is now at $55.29, 28% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Starbucks on November 2nd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $51.17. Since that recommendation, shares of Starbucks have risen 7.5%. We continue to monitor SBUX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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