Starbucks muscles up - Analysis - 21-09-2018

Starbucks' stock kept rising in the short term trend while settling above the support of 56.11, which represents the ratio 50% of Fibonacci retracement levels for a descending wave in the short term (from 64.85 to 47.37), with positive pressure from the 50-day SMA, coupled with positive signals from the RSI. 

Therefore we expect more gains for the stock, targeting the resistance of 58.17, which represents the ratio 61.8% of the same retracement levels, as long as it settles above 56.11. 

Expected trend for today: Bullish