SBUX drops to lowest close since September 6th
Starbucks Corporation (SBUX) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, SBUX finished the week -0.2% lower at 54.75 after losing $0.14 (-0.26%) today on low volume. Today's closing price of 54.75 marks the lowest close since September 6th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (SBUX as at Sep 14, 2018):
Friday's trading range was $0.39 (0.71%), that's far below last trading month's daily average range of $0.65. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 54.44.
Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.
Selling might speed up should prices move below the nearby swing low at 54.33 where further sell stops could get activated.