Starbucks Bearish Star Cluster

By | December 19, 2014

The bearish star cluster on the Starbucks (SBUX) chart highlighted last week preceded price action this week that has taken the stock down below the recent breakout level of its 2013 all-time high. The MacD has made a bearish crossover and the Money Flow Index, a volume-weighted relative strength measure, has crossed into negative territory and reflects distribution. Weakness in the context of the strength in the broader market over the last two days is a further bearish indication.

48. sbux chart

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