Starbucks breaches current support - Analysis - 23-06-2017

Starbucks' stock (SBUX) fell in the intraday levels, recording a loss of 0.75% in the last session, or 0.45 points, and trespassing the important support of 59.54, amid negative pressure from the 50-day SMA, while the stock gets hurt by exiting an ascending price channel that limited recent trading. 

Therefore we expect more losses for the stock, especially if the support of 59.54 was firmly breached, targeting the next one at 57.98.