Lower Lows Ahead For Starbucks Corp (NASDAQ: SBUX) Says Market Timer Frank Kollar
March 15, 2006
Shares of Starbucks Corp (NASDAQ: SBUX), the specialty coffee retailer that operates in North America, Latin America, Europe, the Middle East and Pacific Rim, have begun a new leg down that is now just above a critical support level.
If Starbucks makes a decisive close below $29.00 a share, the prior August 2006 lows, prices could start a new leg down that has considerably further to go. This is a heavily traded stock and traders love to take it up and down but if this support level is broken, Starbucks could decline to $26.66 before the next support level is reached.
Fibtimer.com (http://www.fibtimer.com) currently has a position in Starbucks Corp in its Stock Timing Strategy.
Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.
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