NEW BULLISH Plays
Starbucks Corp. - SBUX - close: 21.90 change: +0.47 stop: 20.95
Why We Like It:
Did you or your spouse go shopping this past weekend? How many Starbucks cups did you see in shoppers hands while you were out? This morning the National Retail Federation said crowds were bigger but they were spending less than last year. They may have been spending less in the stores but at least one firm believes they were all stopping by Starbucks. It makes sense. Consumers could be watching their wallets but they're probably willing to pop for an overpriced coffee to make the occasion more enjoyable.
The stock performed well on Monday with a 2.1% gain. Shares are poised to breakout over resistance near $22.00. I'm suggesting a trigger to buy the stock at $22.25. If triggered our first target is $24.90.
Entry on November xx at $xx.xx <-- TRIGGER @ 22.25
Change since picked: + 0.00
Earnings Date 01/28/10 (unconfirmed)
Average Daily Volume: 10.9 million
Listed on November 30, 2009