Rally for Starbucks Corp (NASDAQ: SBUX)
Says Market Timer Frank Kollar
February 17, 2010 (FinancialWire) (By Frank Kollar)
Shares of Starbucks Corp (NASDAQ: SBUX) are mounting a
solid attempt to regain losses from their January 21 to
February 5 decline.
Shares will hit strong resistance at the $23.50 level
which stopped an almost year long advance. This is also
the 50% retracement level for the entire bear market decline
for Starbucks and is an important level.
If shares can break out and close decisively above $23.50,
Starbucks should run to $27.41, the 61.8% retracement level
for the bear market decline.
A close below $21.20 would point to further declines and
another leg down for the correction, possibly to test the
$18.70 level.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy holds a position in Starbucks.
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.
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.
Go to previous Press
Releases & Trading Notes.
Note: These Press Releases are short term in nature. They may or may not reflect the same position as current subscriber reports which typically have longer time frames.
© Copyright 1996-2010, Market Timing Strategies, Inc., All Rights Reserved.
FibTimer reports may not be redistributed without permission. These Trading Notes however may be distributed without permission.
Disclaimer: The financial markets are risky. Investing is risky. Past performance
does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
