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C = Catalyst for a Stock’s Movement
Starbucks was a pioneer in the coffee industry. It is a roaster, marketer, and retailer of specialty coffee and tea products worldwide. The company has made coffee chops more mainstream and most of the public seems to be enjoying it. Look for this company to continue to increase its bottom line as it expands worldwide and consumers continue to enjoy their espresso drinks.
T = Technicals on the Stock Chart are Strong
Starbucks’s long-term price chart is a magnificent uptrend. The stock is poised to revisit all-time highs that were hit last year. After a pullback to a key support level, this stock seems to be picking-up steam. Building a pattern of higher highs and higher lows, look for the uptrend in Starbucks to continue.
Evaluating a trend more clearly can be done with the use of moving averages. Specifically, using the stock’s price relative to these moving averages can reveal a lot about the trend. Currently, Starbucks is consolidating around its key moving averages, the 50-day, 100-day, and 200-day simple moving averages. So, from this we can see that there is no clear direction for the stock, as the moving averages are pointing in different directions…
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