Long Position on SBUX @ $63.00 on 12/28/2018 (Momentum)

Starbucks Corporation (SBUX) operates as a roaster, marketer, and retailer of specialty coffee worldwide.

The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development.

Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

The company also licenses its trademarks through licensed stores, and grocery and foodservice accounts.

It offers its products under the Starbucks, Teavana, Tazo, Seattle's Best Coffee, Evolution Fresh, La Boulange, Ethos, Frappuccino, Starbucks Reserve, Princi, Starbucks Doubleshot, Starbucks Refreshers, and Starbucks VIA brand names. As of November 1, 2018, the company had 29,324 stores, including 15,341 company-operated stores and 13,983 licensed stores. 

Shares are sitting at an upward trendline support, and higher share prices are expected for this stock.

Entry Point: $63.00

Stop Loss: $60.00

Trading Range: $47.37 - $68.98

Target Price: $69.30

Updates

1/31/2019 12:24:42 PM

SBUX closed at $69.35

Position closed on 1/31/2019 at price of $69.35 with a 10.08% gain in 34 days.

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