The last time Starbucks shares did this, the stock plunged 30% $SBUX (via TradingNation)
div > div.group > p:first-child"> The stock has rallied more than 18% this year, already notching 20 all-time highs, its most records for the first four months of a year since 2012. However, after hitting a high in mid-April 2012, the coffee chain plunged more than 30% through July."Here's a stock that looks great on the chart on a very long-term basis.
"If you look at not just its daily RSI chart but its weekly RSI chart, it's getting very extended and it's now up to levels where it usually tops out," said Maley. "When you get this much of a rally and get this extended, once you get past the earnings, it may get one more boost, but I think you're going to get an opportunity to buy at lower levels over the coming weeks, so I'd rather buy it on weakness than chase it up at these levels," he said.Quint Tatro, founder and president of Joule Financial, says the earnings report could be the one to take Starbucks shares lower.
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