Starbucks turns losses into profits - Analysis - 19-05-2017

Starbucks' stock (SBUX) rose in the intraday levels, scoring a profit of 0.15% in the last session, or 0.09 points, after hitting an intraday low at 58.87, bouncing off it higher and turning the losses into profits, and settling above the important support of 59.54, with ongoing support from the 50-day SMA, as relative power indicators reached extremely oversold levels compared to the stock's movement. 

Therefore we expect more gains for the stock, targeting the resistance of 61.94, as long as it settles above 59.54.