SBUX breaks out
Volume Alert: Starbucks/SBUX trades to new session high ($52.70) on spike in volume...
This volume spike occurred because many traders had buy stop orders entered at $52.15+, and thus purchased -- and reified! -- the aforementioned breakout. Next resistance at ~$55.
Congratulations to all who boldly stepped up to the plate to purchase at <$49.80 (as per my earlier instructions), an action taken after a ferocious one-way decline from $64+ -- and, to the beginning trader, looking lower yet!
This volume spike occurred because many traders had buy stop orders entered at $52.15+, and thus purchased -- and reified! -- the aforementioned breakout. Next resistance at ~$55.
Congratulations to all who boldly stepped up to the plate to purchase at <$49.80 (as per my earlier instructions), an action taken after a ferocious one-way decline from $64+ -- and, to the beginning trader, looking lower yet!
posted by David M Gordon | 11:04 AM
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