Starbucks' stock (SBUX) returned higher with a 1.2% profit while buoyed by exiting a descending correctional price channel that guided recent short-term trading, with support from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels.
Therefore we expect more gains for the stock, targeting the first resistance of 118.90, provided the support of 114.20 holds on.
Expected trend for today: Bullish