With the current 2-day high-percentage decline on significant volume, combined with the breach of the often-tested support level of ~$53, 
SBUX seems to be at the beginning stages of a major correction.
In the absence of some positive news in the near future, I see the next major support area to be near $43.70.
SBUX seems to be at the beginning stages of a major correction. In the absence of some positive news in the near future, I see the next major support area to be near $43.70.
Trade closed manually
Forget to cover this short last week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.