Starbucks (SBUX) preview for March 27, 2015

The uptrend is ready to restart as SBUX shares found nice support at the 20-DMA and formed a “bullish hammer” candlestick on the daily chart. Longer-term the trend is clearly up as SBUX shares hit all time highs last week. Thursday’s low ($93.66) is the line in the sand for speculative longs.

SBUX daily (3 months):

sbux2

Chart courtesy of http://www.StockCharts.com

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