Big Rally for Starbucks Corp (NASDAQ:
SBUX) Says Market Timer Frank Kollar
May 4, 2010 (FinancialWire) (By Frank Kollar)
Shares of Starbucks Corp (NASDAQ: SBUX) suffered last
week as did most stocks, but in trading on Monday, May
3, Starbucks gained over 4%, erasing all last week’s
losses.
The U.S. financial markets had solid gains on Monday but
Starbucks strongly outperformed on excellent volume. Two
weeks ago Starbucks posted much stronger earnings for its
fiscal second quarter and raised its fiscal 2010 profit
outlook. This was the second quarter in a row with positive
same store growth.
The target for this advance remains at $27.42, the 61.8%
retracement for the entire bear market decline. A close
above this level, only 0.8% above today’s close,
would be extremely bullish.
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.
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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. |
