SBUX Analysis for 02.23.2009

STARBUCKS CORP. - SBUX

Monthly chart remains bearish with price below all moving averages and the down trendline in place. No buy signal/pattern evident on this timeframe. Targets 1 and 2 have been hit. Next downside target is the the $6 - $5 level.

Weekly chart remains bearish with price below all key moving averages. No buy signal/pattern evident on this timeframe.

Daily chart shows price action tracing out a consolidation pattern. Look for continued weakness and a re-test of the current low and then new lows to be made.