$SBUX Starbucks Corporation Stock Robo Analyst October 30 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 86.11 suggesting the next level of support is 83.61. The long-term uptrend has now turned neutral.

The stock has support at 83.61 and 79.33. If the stock breaks down through support at 83.61 then it will probably continue lower to 79.33. The stock will meet resistance at 86.11 and 92.88. If the stock breaks up through resistance at 86.11 then it will probably continue higher to 92.88. The 200-day moving average is at 81.37. This will also act as support. If the stock closes below 79.33 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 (22.86), so look for a possible rebound soon. Confirm this with the Short-Term Opinion and Daily Opinion to keep from exiting prematurely.”