Starbucks surrounded with negative signals despite gains - Analysis - 06-09-2018

Starbucks' stock rose in the intraday levels, with negative pressure from the 50-day SMA, while trading within a descending correctional price channel in the short term, and as the Relative Strength Index reached overbought levels, scoring a fresh profit of 0.49% in the last session, or 0.26 points. 

Therefore we expect the stock to return lower, targeting the support of 51.20, as long as the resistance of 54.44 holds on.  

Expected trend for today: Likely Bearish