Starbucks Corp (NASDAQ: SBUX) Nears
Two Year High Says Market Timer Frank Kollar
June 15, 2010 (FinancialWire) (By Frank Kollar)
Shares of Starbucks Corp (NASDAQ: SBUX) continue to try
and break out above critical resistance.
Starbucks is at highs last seen in September 2007. The
$28.00 level is also the 61.8% retracement of the entire
bear market decline for Starbucks and would mark a huge
breakout for this stock if it is decisively surpassed.
Since April, Starbucks has rallied to this resistance
level three times, with the most recent rally being on
Monday, June 14.
If the breakout occurs, we are looking for Starbucks to
reach our next target for this stock, at $32.95, in coming
weeks.
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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