$SBUX Starbucks Corporation Stock Robo Analyst October 23 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 broken through an important trendline at 85.65 suggesting the next level of support is 80.98. The long-term uptrend has now turned neutral.

The stock has support at 80.98. The stock will meet resistance at 83.61 and 89.17. If the stock breaks up through resistance at 83.61 then it will probably continue higher to 89.17. The 200-day moving average is at 80.98. This will also act as support. If the stock closes below 78.98 a negative trend change is probable. Look for the stock to fall to the level where it started prior to the latest big upmove. The stock is extremely oversold according to the Stochastic Indicator (20.86).”