$SBUX long entry on watch I was hoping for $SBUX
Post# of 474
Posted On: 10/23/2012 3:01:57 PM
$SBUX long entry on watch
I was hoping for $SBUX to come into 44 bucks but it has already started moving back up a dollar off of the lows.
If you take a look at the chart below there is a massive trendline dating back to late September of 2011. This means that there should be some very good support at these levels for a nice bounce off of the lows.
The entry signal for me would be either a close back above the trendline or a retrace back down to today's lows, even a move down to 44. Keep your eyes on this one, it could retrace to the 20 DMA for several dollars in gains.
[IMG]http://i.imgur.com/QEAUj.png[/IMG]
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