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Saturday, March 17, 2007

Starbucks Corporation (NASDAQ:SBUX)



Starbucks Corp. will be hosting its shareholder meeting next week. As of Thursday's close, shares are down more than 12% since the company last reported earnings, and have slipped more than 23% since hitting a 52-week high back in November.


On Friday, however, the stock jumped 3.3% printing a short term reversal. They tested the August low and the breakout of 5 March failed printing a positive divergence. It's risky, but there are margins for a rebound with good risk reward, which is something we should look befaore taking a trade.

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