Enjoy The Coffee, Avoid Shares Of Starbucks Corp (NASDAQ: SBUX) Says Market Timer Frank Kollar
June 22, 2006 (FinancialWire) (By Frank Kollar)
Shares of Starbucks Corp (NASDAQ: SBUX), the specialty coffee retailer, closed decisively below a critical support level. A month ago we wrote, “…we expect Starbucks to reach $26.64 in coming weeks. If prices drop below $26.64, Starbucks could reach its September 2005 lows at the $23.00 level.”
Thursday’s close at $26.26 forecasts continued declines for Starbucks. The target for this decline, which has already cut 33% from this stock since November, is September lows at $23.00 a share.
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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