Starbucks tries to recoup some losses - Analysis - 24-01-2022

Starbucks' stock (SBUX) rose 0.62% in the last session, after the important support of 95.90 held on, lending it positive momentum, while settling at 96.31, as the stock tries to recoup some recent losses, as it also vents off oversold saturation from the RSI, amid the dominance of the downward correctional trend in the medium and short terms, with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the support of 91.00, provided the support of 95.90 was breached. 

Expected trend for today: Bearish