$SBUX Starbucks Corporation Stock Robo Analyst October 16 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 91.02 suggesting the next support level is at 84.39. This weakness suggests the long-term trend is turning neutral.

The stock has support at 84.39 and 79.65. If the stock breaks down through support at 84.39 then it will probably continue lower to 79.65. 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 80.45. This will also act as support. The stock is slightly oversold according to the Stochastic Indicator (30.48).”