As of now SBUX has broken out its 52 week high price 118.73 and may continue to trade higher if price can maintain above. The base formation of 9 weeks is quite tight at less than 9%, giving an indicator of a high tight flag pattern, with flagpole of 66% from base. Monitor for next pullback/move.
As of 12th Aug, lowest price of the day was 18.08. If price can maintain above this today, and closing price is higher than opening (19.50), there could be technical rebound to Fibonacci level at 50 - 61.8%. TAYOR
