Stock Chart Analysis SBUX

Posted by downtowntrader | 4/30/2007 09:59:00 PM | 0 comments »

Stock Chart Analysis SBUX

Starbucks Corporation (Public, NASDAQ:SBUX)

SBUX has been under distribution all year. OBV has been declining along with price confirming the downtrend. SBUX has been trading in a triangle / wedge pattern which is usually a continuation pattern. If it continues to fall out of this triangle it it would project to make new lows for the year. The 50 day moving average is under it though, and could provide support.

Good Trading,