Good Setup Developing in Starbucks
Published on Wednesday, 05 December 2012 08:16 Written by TradersHuddle Wire
New York, December 5th (TradersHuddle.com) - Starbucks Corporation (NASDAQ:SBUX) closed the trading day at $51.12, near its 50 day and 200 day moving averages set at $49.24 and $51.62 respectively. Starbucks' price action placed the stock above the 50 day moving average but below its 200 day moving average, providing a nice trading setup with clear reference points.
Starbucks Corporation (NASDAQ:SBUX) retails, roasts, and provides its own brand of specialty coffee. The Company operates retail locations worldwide and sells whole bean coffees through several distribution channels. Starbucks also produces and sells bottled coffee drinks.
Starbucks seems to be setting up for a tight range between the 50 day moving average as support and the 200 day moving average serving as resistance.
A tiered approach appears to be the best way to maximize possible movements in the stock, as traders could establish a small position in Starbucks and wait for the stock to break out above the 200 day moving average at $51.62. Then they could add to the position as momentum builds with the breakout. On the other hand, if support being referenced at the 50 day moving average set at $49.24 breaks, it could signal further downside for Starbucks in the horizon.
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines