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Starbucks: 10 Things the Stock's Chart Is Showing


SBUX is having a decent year, is up over 16% year-to-date, and is performing slightly better than the S&P 500.

Today's chart comes courtesy of a few reader requests for Starbucks Corporation (NASDAQ:SBUX), which operates as a roaster, marketer, and retailer of specialty coffee worldwide. As of September 30, 2012, the company operated 9,405 company-operated stores and 8,661 licensed stores.

Click to enlarge

What I Am Looking At:
  • Having a decent year, up over 16% year-to-date, performing slightly better than the S&P 500 (INDEXSP:.INX).
  • Strong upside gap in beginning November on better than expected earnings.
  • Raises forecast on strong sales and plans for 1,300 new stores in 2013.
  • Positive sign to see shares breaking out from November 2 gap day's range.
  • Also, breakout level has been significant resistance this fall and former support area from the summer.
  • 200-day moving average breach.
  • Heavy bought-to-open calls for December expiration reside at the 52.5-strike, which was clearly broken this morning resulting in a delta-hedging rally.
  • 10-day buy-to-open put/call ratio 1.22, ranks in the 91st percentile, indicating a strong preference for puts.
  • Eight out of 24 analysts still maintain "hold" ratings, potential for further upgrades.
  • All-time high made in mid-April at $62.00, next intermediate-term target.
This article by Tony Venosa, CMT, was originally published on Schaeffer's Investment Research.

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