It was just about a year ago when I wrote a blog titled, "Love the coffee ... hate the stock."
The analysis I posted turned out to be right on the money for that stock, and that stock was Starbucks. Well here we are, 21 months later and again looking at Starbucks, but from a different perspective. I was looking through some of our charts on MarketClub and Starbucks came to my attention as I noticed it had a break-out over a 21 month old trendline.
Now, it's too early to say that Starbucks is shooting up to the moon. I don't think that would be a likely scenario, but it does mean that we may have seen the worst for Starbucks at least in the short-term. For the past three months, Starbucks has been moving sideways unlike the stock indexes which have been going south. Sometimes it's worthwhile looking at markets that are just a little bit different in their trend of the general market.
If you have a few minutes, check out my latest video on Starbucks. In this short video, I explain exactly what I'm looking at and how I think this market will act in the near future
The video is for educational purposes only and should not be construed as a recommendation to buy or sell Starbucks stock.
Enjoy the video and every success in trading.