{"id":24716,"date":"2014-01-21T14:16:21","date_gmt":"2014-01-21T19:16:21","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=24716"},"modified":"2014-01-21T14:16:21","modified_gmt":"2014-01-21T19:16:21","slug":"starbucks-corp-nasdaqsbux-under-the-microscope","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2014\/01\/starbucks-corp-nasdaqsbux-under-the-microscope\/","title":{"rendered":"Starbucks Corp. (NASDAQ:SBUX) Under The Microscope"},"content":{"rendered":"

Let me start off by saying that I think Starbucks Corp.(NASDAQ:SBUX)<\/a> makes a great cup of coffee and provides a very good service. Having said that, I don't like the stock of Starbucks right now. <\/p>\n

<\/a> <\/p>\n

Today a monthly red Trade Triangle triggered, which is the first monthly Trade Triangle we have had in 14 months. This is a significant technical development and it indicates changes in the picture and direction of Starbucks and should not be ignored. <\/p>\n

There is an old adage in trading and it says \"they slide faster than they glide\". Translated that means stocks go down a lot faster than they go up. <\/p>\n

Kudos go out to MarketClub member \"QB\" who alerted fellow members on the blog today that a red monthly Trade Triangle hit this morning for Starbucks. Thanks, \"QB\".<\/p>\n

This in-depth analysis of Starbucks is not to say the stock is going to collapse. However, I see certain technical elements that are falling in place that do not look good for this stock.<\/p>\n

What Does This Company Do?<\/h2>\n

Starbucks Corporation operates as a roaster, marketer, and retailer of specialty coffee worldwide. Its stores offer coffee and tea beverages, packaged roasted whole bean and ground coffees, single serve products, and juices and bottled water.<\/p>\n

Chart Legend & Technical Picture (Black Numbers)<\/h2>\n

1. Classic long-term trend line<\/a>.
\n2. All Trade Triangles are red and negative.
\n3. Double top and negative divergence (See RSI<\/a>).
\n4. RSI Divergence with price action.
\n5. Break below the 14-month trend line.
\n6. Fibonacci retracement<\/a> levels.
\n7. RSI below its 50 line, which will now act as resistance.<\/p>\n

To summarize, I expect the current down trend in Starbucks to continue unless I see otherwise with our Trade Triangle technology. <\/p>\n

If I'm are correct in my analysis, I could potentially see Starbucks Corp. (NASDAQ:SBUX)<\/a> move down to the following Fibonacci retracement levels:
\n38.2% @ $67.85
\n50% @ $63.31
\n61.8% @ $58.77 <\/p>\n

As a bit of trivia, Starbucks was named after a character in Moby Dick. Starbuck was the first mate on the Pequod. <\/p>\n

Every success with MarketClub,
\nAdam Hewison<\/a>
\nPresident, INO.com
\nCo-Creator, MarketClub<\/p>\n","protected":false},"excerpt":{"rendered":"

Let me start off by saying that I think Starbucks Corp.(NASDAQ:SBUX) makes a great cup of coffee and provides a very good service. Having said that, I don't like the stock of Starbucks right now. Today a monthly red Trade Triangle triggered, which is the first monthly Trade Triangle we have had in 14 months. […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[188,1130,4074,5869,2336,6046,1985],"class_list":["post-24716","post","type-post","status-publish","format-standard","hentry","category-trading-tips","tag-adam-hewison","tag-fibonacci-retracement","tag-monthly-trade-triangles","tag-relative-strength-index-rsi","tag-starbucks","tag-starbucks-corp-nasdaqsbux","tag-trend-lines"],"yoast_head":"\nStarbucks Corp. 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