Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Wednesday, December 30, 2015

SBUX Had Better Not Turn Downward Here

SBUX has been an amazing stock for a number of years and recently broke up above the top of its long term blue channel which got the bears thinking that might have been the blow off top.  

click on image to enlarge

Whether it was or not will largely be determined by what it does now as it has dropped through its long term blue upper channel line then climbed back up to it.  If it finds resistance there and pushes downward from it then the top is very likely in.

Trade well my friends


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