$SBUX Starbucks Corporation Stock Robo Analyst October 12 2019 #SBUX

Starbucks Corporation (SBUX) “On a long-term technical basis, the stock (SBUX) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has recently broken through an important trendline at 90.19 suggesting the next support level is at 83.61. This weakness suggests the long-term trend is turning neutral.

The stock has support at 83.61 and 76.95. If the stock breaks down through support at 83.61 then it will probably continue lower to 76.95. The stock will meet resistance at 89.17 and 94.39. If the stock breaks up through resistance at 89.17 then it will probably continue higher to 94.39. The 200-day moving average is at 80.10. This will also act as support. The stock is extremely oversold according to the Stochastic Indicator (22.47), so look for a possible rebound soon. Confirm this with the Short-Term Opinion and Daily Opinion to keep from exiting prematurely.”