SBUX Analysis for 03.02.2008

Georges Yared has been bullish on Starbucks and he recently posted his analysis here and here. The charts continue to show weakness.

STARBUCKS CORP. - SBUX

Monthly chart shows that Starbucks has lost more than 50% of its value since November 2006, with no end in sight. Price is below all its key moving averages on this timeframe. No buy signal/pattern in sight. Georges Yared wrote on June 28, 2007 - "Why Now is a Good Time to Buy Starbucks" when the price was around $26. Today's closing price is $17.97.

Weekly chart continues to show major weakness. No buy signal/pattern evident on this timeframe.

Daily chart shows weakness, with the current support of $17.69 area unlikely to hold.