Starbucks declines within descending price channel - Analysis - 29-09-2021

Starbucks' stock (SBUX) fell 1.73% in the last session amid negative pressure from the 50-day SMA, while moving within a descending price channel that guided recent short-term trading, with negative signals from the RSI after reaching overbought levels compared to the stock's movements. 

Therefore we expect more losses for the stock, targeting the first support at 109.45, provided the resistance of 114.45 holds on.

Expected trend for today: Bearish