Starbucks suffers from negative pressures - Analysis - 16-05-2018

Starbucks' stock (SBUX) fell in the intraday levels, registering a new loss of 0.86% in the last session, or 0.49 points, amid negative pressure from the 50-day SMA, with negative signals from the RSI. 

Therefore we expect more losses for the stock, especially if the support of 56.20 was breached, representing the ratio 61.8% of Fibonacci retracement levels for an ascending wave in the medium term (from 50.84 to 64.87), targeting the next support at 54.15, which represents the ratio 76.4%.