$SBUX Starbucks Corporation Stock Robo Analyst October 3 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 89.34 suggesting the next support level is at 82.72. This weakness suggests the long-term trend is turning neutral.

The stock has support at 82.72 and 76.95. If the stock breaks down through support at 82.72 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 79.41. This will also act as support. The stock is extremely oversold according to the Stochastic Indicator (6.79).”