Starbucks (SBUX) – Bullish DailyPlay for Friday Jan 11th, 2019
The bullish DailyPlay we chose for Friday, January 11th is Starbucks (SBUX). SBUX is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 1.00% move higher and its 1m and 6m trend have turned bullish on 1/8 and has recently broken above its $100 resistance level.
Starbuck’s 1m and 6m trends turned neutral on 1/9 but have continued to print higher highs and higher lows. With a technical score of 10 (out of 10), SBUX is a strong stock that will likely continue higher.
As a stop loss, if SBUX was to trade below $62 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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