We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Starbucks Corporation (SBUX).
I hope you are having a GREAT week !
This week let's take a look at SBUX as big things are going on for that stock.
SBUX has put in a weekly and monthly MarketClub green Trade Triangle which means all systems are GO for higher prices as of right now.
SBUX announced it is planning 1500 new stores in the U.S., and is also planning to remodel older stores.
I normally don't pay a lot of attention to fundamentals, but when they come together this perfectly with the technical's, it is well worth paying attention to, as growth is very important for a stock to stay strong.
Yesterday was a big up day, making this what I would say, is definitely a Chart to Watch!
Thanks,
Jim Robinson
Profit Trading.com
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