Sunday, March 02, 2008

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.


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.

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