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Starbucks (SBUX) Crosses Pivot Point Resistance at $55.25Jan 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 [email protected] --------------------------------------------------------------------------------------------- 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 http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |