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Check This Trade Out On $SBUX

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Ever since falling sharply on mixed earnings, Starbucks Corporation (NASDAQ:SBUX) has slowly climbed higher in one of the most bullish markets in history. The bounce in shares of Starbucks Corp maybe coming to an end though. The stock has insane resistance at $58.50, where two resistance points converge. The first is a down-sloping trend line from the recent highs and the second is a gap fill. Gap fills are technical analysis resistance points when price moves up into it. Whether you understand the technical jargon or not, suffice it to say that Starbucks is a strong short at $58.50. The downside target for this trade setup is $51.00.

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Stock market chart analysis signals short on Starbucks Corp


This article was written by Markus Teller for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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