Starbucks Corporation

Starbucks Near-Term Bounce

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SBUX looks like it could be setting up for a nice bounce back into the $86-87 range. Then, as long as we hold a higher low, onwards to $90-$92. Weekly & Monthly charts are still showing a need for further correction, however, I do believe there is opportunity for a relief rally here. There was a lot of buying into the close today. Lets see what happens in the morning. Break above $82.65- Bullish. Break below $81.25- Bearish. Have a couple short-term options positions open. Lottery positions, either i'll lose a little or gain a lot. I still expect to see $65-75 prices before christmas.

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