SBUX Short (Possible Bearish Butterfly Formation)Price of Starbucks has reached an interesting point and there is a chance for a bearish butterfly pattern.
If the price starts falling, it might go down all the way to $50 (with some other take profit points on the way).
However, if the price goes over $110 in the next few days, butterfly formation is negated and you should not short sell it.
The Butterfly pattern was detected with my "Harmonic Scanner".
